AUDCAD - Bearish Technical Evidence 3 (more to come)
Monthly time-frame, the “KING” of price action. It is 4 times more reliable than the weekly and 21 times more reliable than the daily. It is a fact that last month a BEARISH OUTSIDE CANDLE was printed on the chart. It signifies the dominant of sellers and it is consider a BEARISH CONTROLLING CANDLE meaning that price can fluctuate in its range without affecting its authority on lower time-frames. Its control will be lost only if its high is violated (now you know where to place your stops).
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