Technician
Short

AUDCAD: Major Pin Bars at Resistance

FX:AUDCAD   Australian Dollar/Canadian Dollar
1672 15 24
I am looking to short the pair if we see another attempt to the upside towards 1.0020.
- Two major rejections(pin bars) at the 78.6 retracement level
-A horizontal resistance at 0.9980.
-The 200-days Simple Moving Average .
-Daily RSI in overbought region

Trade forex with me, check my new website http://thefxchannel.com/ , vote and subscribe
Join me at https://twitter.com/thefxchannel
My best regards,
Technician

==================================================================
Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
Notes:
5) If 90 percent of first target is reached I move stop loss to breakeven.
6) If first target was reached without triggering entry I cancel the trade.
7) Remember: Losing is a main part of the game
I teach my experience conclusions in 10+ trading strategies. PM me for details and cost.
Full target reached
Reply
Technician, what do you do if you reach a first target and the market looks like it could be ranging back. Do you close the trade and take the 1st target profit or do you just let the market do whatever it wants until it hits your breakeven stop loss... ?
Reply


I'm on it too. good luck
Reply
The move really quick
Reply
I shorted this last night on my fx Options account based on the candle stick formation alone. The MA & resistance level just confirms the move short if only for the next residing candle. Thank for the heads up :)
+1 Reply
Happy to help
Reply
Nice. I have the same set-up on my page. I was able to get in @ 1.0000
Reply
Why waiting for 1.0020 to short?
Reply
Technician Casey_Yeo
because if shorted at market the stop would be too far. Money management issue
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out