AUDCAD | Short H4 | Market Exec | Similar to NZDCAD

Technical Confluences for Trade:
- Stochastics are in Overbought Conditions on D1, H4 and H1 timeframe
- Price action is at a Supply Zone and has another Consolidation Zone nearby it
- Price action is at the top of a channel resistance
- Targeting the 50% Fibo retracement

Fundamental Confluences for Trade:
- Same setup as the NZDCAD trade I just posted as well
- AUD has a RBA event risk if this trade is taken

Suggested Trade:
Entry @ Area of Interest 0.9030 - 0.9060
SL @ 0.9093
TP 1 @ 0.8983 (Close Half-Position & move SL to Entry level once TP1 is achieved)
TP 2 @ 0.8921
Risk-to-Reward @ Approx. 2.14 (Depending on Entry Level)

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Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks.

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Trade closed: stop reached:

SL hit.

Moving on to the next trade.

Protect the capital. :D