NickCoulby
Short

AUDCAD 8:1 RR short effective immediately

FX:AUDCAD   Australian Dollar/Canadian Dollar
129 3 8
Beautiful wedge into a prior huge mode resistance, target is the base from which it broke out... .5% risk to make 4%, if you get stopped initially, reenter on next break lower... the reward is large enough to forgive a false break a few times over and still yield a size-able reward.. GL!
Should fall pretty fast if it's a valid terminal, keep the timing in check...tight stop is worth it, specially if you can go to break even asap.
I think we might see a triangle, no new low in the larger daily structure and both cad and aud getting a boost this week for different reasons:

#1 Copper and Gold helping Aud
#2 Oil helping Cad
#3 Stocks/Asia relief helping the dollar and Aussie vs Cad

How will these 3 things weigh on price of audcad?
+1 Reply
ForexisbizFib
a year ago
Stop loss hit.
Reply
shagenfx
a year ago
Thanks :)
Reply
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