This is four minute chart of AUD/CAD, it is one of very few charts which are cycling beautifully for Intra-day trading like Pivots & Snipers, phase 1 is about to start.
The best way to trade this chart is to move down to hourly chart once phase 1 established, let the price action cross the moving averages in hourly chart, once price action clears from moving averages in hourly time frame, move to 5 minute chart.
Pivots: If Risk/Reward ratio is more than 1 : 1.1 then entry could be on retest of pivot line once price crosses pivot line from upside to downwards.
Sniper: Entry could be on retest of 50 EMA with 20 pips stop loss & take profit
NB: 15 minutes chart can be used as an execution chart but the best way to choose an execution time frame is look for clean cyclicity & clean bounces whichever time frame it is (5 minutes or 15 minutes).
