Technician
Short

#AUDCAD: Short for a correction!

FX:AUDCAD   Australian Dollar/Canadian Dollar
1773 20 22
*Update: Closed half position at first target, moved stop to break-even, second half was stopped at break-even..
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The pair rallied strongly within the past days, headed to overbought condition at a confluence of Fibonacci levels, where it showed hesitation. A pin bar was formed at the 161.8 extension for the latest bearish wave, and hovering near the 61.8 retracement level for the major bearish wave that started from 0.9985 high to 0.9395 low.

I have initiated a short position , lets see how it goes. Thanks for reading.

Best of luck. Join me at https://twitter.com/thefxchannel
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My best regards,
Technician

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Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
Notes:
5) If 90 percent of first target is reached I move stop loss to breakeven.
6) If 90 percent of first target is reached without triggering entry I cancel the trade.
7) Remember: Losing is a main part of the game
If you dont want to miss any trade and see all the trades live, fully transparent. No bullshit like some others. Join my FREE channel here https://telegram.me/technician_forex_trades
GcNaif MOD
2 years ago
sweet, very nice analysis @technician
Reply
Technician TOP GcNaif
2 years ago
Thanks buddy
Reply
JSiminoski
2 years ago
Im thinking the same as you, looking to short at the close of the daily candle. Thanks for sharing!
Reply
Technician TOP JSiminoski
2 years ago
You're welcome mate, good luck
Reply
MisterTrader
2 years ago
snapshot


And aslo the SMA200 on monthly can act as resistence for your short position.
Good luck mate!
Reply
Technician TOP MisterTrader
2 years ago
Like your multiple time frame charts, u provide some good ones
Reply
MisterTrader Technician
2 years ago
That's kind of you, thanks !
Your analysis are very helpful for me, keep doing such a great job.
Mr.Tdr
Reply
thanks technician
+1 Reply
Technician TOP manijeh.kazemi.33
2 years ago
Ur welcome my friend
Reply
FXMONA
2 years ago
great analysis.....
Reply
Technician TOP FXMONA
2 years ago
Thanks there
Reply
Sweet, I got short at the same level this morning.
Reply
Technician TOP Akil_Stokes
2 years ago
Thanks Mate
+2 Reply
caifu642
2 years ago
Nice call! I was also short the AUD/USD which had a very nice move. Not sure of the reason, but was short because of the excursion outside of the bollinger bands on the 30 min chart. I'm sure happy to take the pips!
Reply
Technician TOP caifu642
2 years ago
Thanks, glad u shorted as well
+1 Reply
Target one achieved
+1 Reply
Akil_Stokes TOP Technician
2 years ago
With all of the painful trades out there its good to have ones that just get the job done.
Reply
Update: First half was closed at first target, second target was closed at break-even
+2 Reply
MisterTrader
2 years ago
Level To Watch: #AUDCAD come back in the downtrend tunnel

What is happening on Daily / monthly
Cheers all
Reply
dangap
2 years ago
Please correct me if I am wrong, but could this also be the completion of a Shark pattern??
Reply
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