Description
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Overview:
AUD/CAD completed XABCD harmonic pattern, finding strong rejection at point D (0.87200). Price now re-testing key support, suggesting bullish potential.
Entry:
Consider entry at current price 0.88160 to align with anticipated bullish sentiment.
Risk Management:
Place stop-loss at 0.87200 to mitigate downside risk.
Profit Targets:
TP-1: 0.89140, TP-2: 0.90100 for optimal trade management.
Rationale:
Recent rejection at point D and price action support bullish bias. Prudent risk management is advised.
Conclusion:
Favoring bullish stance on AUD/CAD. Entry at 0.88160 with defined risk and reward. Monitor closely for optimal outcomes.
Disclaimer:
Forex trading carries risks. This analysis is for guidance only, not financial advice. Consult a qualified advisor before trading.
Comment
⋅ We are 2% in profit. You can breakeven this trade now.
Trade closed: target reached
⋅ TP-1 reached,
Hold your trade for TP-2.
Use Trailing Stop Loss.
Trade closed: target reached
⋅ TP-2 reached