okoukonicharles

AUDCAD Short Trade Opportunity

Short
EIGHTCAP:AUDCAD   Australian Dollar/Canadian Dollar
A 'sell' opportunity has just presented itself on the aussie-loonie trading chart. This is occasioned by the bearish harami candlestick pattern just below the 0.91276 horizontal resistance level, which signals a rejection of the same level and suggests a downward price movement.

You can still enter this trade by setting your stop slightly above the aforementioned level and placing your target anywhere between your entry price and the 0.89092 horizontal support level (ensuring a reward-to-risk ratio of at least 3.00).

Happy trading!
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.