AUDCAD - Bearish Crab check-back

Short

Australian Dollar/Canadian Dollar (FX:AUDCAD)

FX:AUDCAD Australian Dollar/Canadian Dollar

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A check-back on the bearish crab pattern with RSI Divergence on AUDCAD pose a great consideration for a shorting opportunity. On the Weekly chart, it is a major resistance area , but sadly target2 doesn't provide a 2:1 reward:risk, let's see how this trading setup pans out.

Trade active: SLE: 0.9605(+16pips)
Stop-Loss at Profit

Trade active: TP1: 0.9548(+73)1.4:1
SLP: 0.9573(+48)

Trade closed: target reached: TP2: 0.9501(+120)2.4:1

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AUDCAD - Bearish Crab check-back

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