AUDCAD is moving in its major descending channel, before continuing its decline there must be a secondary movement before the price can continue its decline, in this idea we take a long position at 0.9256 which coincides with the Fibonacci ratio of 1.886 and the ABCD pattern (AB=CD or 1=2)
SL: 0.9207 (48 pips) TP: 0.9447 RR 1:4
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sorry i wrote it wrong i mean 1=3 not 1=2
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in this idea I will risk 2R because it looks like the candle has broken through the doji in the previous candle, I'm afraid we will miss the entry Instant Buy 0.9281 SL: 0.92263 (55 pips) TP: 0.94479 RR 1:3