Overall AUDCAD have a strong downtrend which indicate seller are controlling the scene . During this trend go SHORT are recommended . Which lead me to analysis AUCAD for best entry and come out with good R/R profile .
Chart ; 4 HOUR |
Setup ;Price did break and closed above key major level at 0.92731 but then price drop below 0.93137 . More over this pullback (A2) have the same length with previous pullback (A1) which indicate buyer exhausted area .
Entry ; 0.92731 , below pivot |
SL ; 0.93137 above reversal point |
TP : 0.91841 |
Risk/Reward; 2.66 |
Disclaimer;
Please don't follow my idea trading without any proper plan and if do please consider the risk of losing money .
Chart ; 4 HOUR |
Setup ;Price did break and closed above key major level at 0.92731 but then price drop below 0.93137 . More over this pullback (A2) have the same length with previous pullback (A1) which indicate buyer exhausted area .
Entry ; 0.92731 , below pivot |
SL ; 0.93137 above reversal point |
TP : 0.91841 |
Risk/Reward; 2.66 |
Disclaimer;
Please don't follow my idea trading without any proper plan and if do please consider the risk of losing money .
Trade active
Comment:
Trade closed: stop reached