TradingView
COSMAS_MOSES
Oct 29, 2018 1:54 PM

AUDCAD | SHORT RETRACEMENTS Short

Australian Dollar/Canadian DollarFXCM

Description

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 .

Trade active

Comment

Trade closed: stop reached

More