Technician
Short

AUDCAD: Pulling the Short Trigger

FX:AUDCAD   Australian Dollar/Canadian Dollar
631 10 3
Update: Moved stop to entry
Update: Closed my two positions at 0.9960.
Profit(pips)= 45x2=90

Price failed at 1.0050 resistance level today, was rejected to form a bearish shooting star . in addition to a potential bearish rising wedge in play. Another possible short here unless price decisively break above 1.0050 resistance

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Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is moved to breakeven
4. Second unit at second target
5. If 90 percent of first target is reached without triggering entry, trade is cancelled
6. Remember: Losses is a main part of the game ;)
I teach my experience conclusions in 10+ trading strategies. PM me for details and cost.
Nice selloff!
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alex.a Technician
CAD got stronger after weaker GDP. Don't know why.
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Update: Close my two positions at 0.9960.
Profit(pips)= 45x2=90
Reply
SwingAndPip Technician
It's right at that wedge though.
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Moved stop to entry
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This one is active now
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Barabaszek Technician
Working.Good Luck.
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Technician Barabaszek
Yeah, this one is a bit concerning for me .. As i am bullish on AUD. But I am doing some sort of hedge on this trade, as i am long aud against euro
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It has developed strong resistance at 0.995 area
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