On the AUD/CAD 4h chart we have a potential short opportunity at the D leg completion of a .
The price reversal zone is between 0.9547 & 0.9576 however we have a strong psychological whole number at 0.96000 which will also be a key area to watch if price breaks above the X leg.
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the placed at the .382% and .618% retracement of the C to D move.
Stop loss would be placed above X leg .
Learn To Trade The .
I couldn't give you an exact number, however whenever placing a stop loss on all advanced patterns they should be either above or below the X leg depending on if the patterns in bullish or bearish.
On the illustration above your stop loss would have to be placed above the X leg as this is the last leg of resistance.
I hope this helps.