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AUDCAD - This is a change of Trend Story, that's one more way how it's done.

You better analyze this your self from scratch after reading this post.

This is the story:

We had Resistance coming from the Weekly chart (zoom out and look left) where we broke up and stayed above for a few days.

  1. Came in below the Resistance level with the highest Dn Volume Wave with Linear Pip move since September. That is your first sign of Weakness - then we wait for the reaction

  2. We have hit the Daily Demand Line and started going up

  3. We have hit a Fib Area and started going down again

  4. Up one more time and another Fib

  5. Finally Plutus Short on Fib and down we go, broke The Famous Demand Line

That's is why I am always preaching do not look only what is happening now - LOOK LEFT IT IS MORE IMPORTANT!!!

So where too now ? What are you next trades? Easy ?

Any comments ?

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