AUDCAD - False breakout against strong support Long

Australian Dollar/Canadian DollarFXCM

Description

⋅ Aug 28, 2017 8:38 PM

Hi Traders,

there is one nice opportunity on AUDCAD. The pair has created 2-sided market and broken down against strong support. There is also a long-term trend line.

We can see strong misunderstanding in this move. Because of it the market has returned back to the CG. Really strong setup for those of you who need bigger RRR.

I will let you know!

Paul K.

Trade closed manually

⋅ Aug 29, 2017 5:13 AM

Hi, there was a strong counter move in last hours. I am closing the trade on 2/3 initial SL.

Chart Patterns Beyond Technical Analysis

Comments

Aqua_Trader

⋅ Aug 30, 2017 1:37 PM

i believe it has some more upside to go

Paul_K

⋅ Aug 30, 2017 7:51 PM

@SN_Doumet, Yes, I totally agree with you. If there will be enough momentum to move the market quickly UP, it can test 1,04 without any problems.