Technician
Short

AUDCAD: Another Bearish Resumption Trade | #FOREX

FX:AUDCAD   Australian Dollar/Canadian Dollar
1682 18 24
*Update: First half was closed at first target, moved stop to breakeven, second half was closed at breakeven...

-The price has completed a bearish head and shoulders top
-Broken below the short term rising trend line
-Currently retesting 0.9790-0.9800 horizontal resistance
-The price is trading within a short term bearish channel

I am looking to short near 0.9800 level, a a pin bar at this resistance would be a great confirmation for this short.

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Good luck, keep your stops tight..
My best regards
Technician
We are finally LIVE https://thefxchannel.com
Thanks mates.. Still running for second target
-1 Reply
Technician TOP Technician
Second half was stopped at break-even
-1 Reply
Great trade! Thanks Technican
Reply
Such beauty. +1 Technician I still have two other tgt's to be hit...
Reply
Excellent trade well done :)
Reply
Very nice!
Reply
xFuD xFuD
Technician can you tell me why the S/L is at that position?
Reply
because its above the horizontal resistance at 0.9790 and the descending resistance of the channel.
Its important to put your stop somewhere that if reached the reasoning behind the idea would be not valid anymore.
-1 Reply
Technician TOP Technician
First target hit btw
-1 Reply
xFuD Technician
Yes that was very nice! News catalyst hit your target precisely!
Reply
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