Short Opportunity in AUDCAD
A favorable opportunity for a short-term short trade presents itself in AUDCAD. The price has taken buyside liquidity from the H8, and the On-Balance Volume (OBV) clearly indicates bearish divergences.
Given this chart scenario, we aim to target a liquidity zone with a short trade, taking into consideration that the accumulation focus is also skewed towards the downside.
This trade provides a Risk-Reward Ratio (RRR) of just over 1:1. While this may not be substantial, it is acceptable.
Given this chart scenario, we aim to target a liquidity zone with a short trade, taking into consideration that the accumulation focus is also skewed towards the downside.
This trade provides a Risk-Reward Ratio (RRR) of just over 1:1. While this may not be substantial, it is acceptable.