AUDCAD Chart 1

AUDCAD - Intermediate Term
Short Swing Trade

AUDCAD - INTERMEDIATE TERM SHORT SWING TRADE by DanV on TradingView.com

21 February 2013

Updates and comments

Since the 2012 top, it appears that AUDCAD has moved sideways in what could be a Flat Correction. If so then we have waves (a) and (b) almost complete and are both abc zigzag. That would suggest that the Wave (c) of the Flat correction just commenced or will do so shortly will be strong 5 wave decline. Risk is relevantly small and can be initiated using smaller TF like H4 to ensure confirmation that the top is in place and RSI divergence is also in place. H4 TF seems to indicate that Friday's top could be the swing high and short could be considered.

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