Technician
Short

AUDCAD: Major Pin Bars at Resistance

FX:AUDCAD   Australian Dollar/Canadian Dollar
1659 15 22
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

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My best regards,
Technician

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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 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
My live trades here https://telegram.me/joinchat/DgsnQ0FzifLqyI2YAoMqqQ
FXMONA
2 years ago
Great setup...
+1 Reply
Technician TOP FXMONA
2 years ago
thx
Reply
FXMONA Technician
2 years ago
The price goes to first tp level, so I cancel the order.. :)
Reply
LudmilaHanania
2 years ago
Nice work, I am short from .9978 from earlier today .
Reply
Technician TOP LudmilaHanania
2 years ago
Good luck mate
Reply
Casey_Yeo
2 years ago
Why waiting for 1.0020 to short?
Reply
Technician TOP Casey_Yeo
2 years ago
because if shorted at market the stop would be too far. Money management issue
Reply
Technician TOP Technician
2 years ago
The biggest dilemma in trading
Reply
IzzoFx PRO
2 years ago
Nice. I have the same set-up on my page. I was able to get in @ 1.0000
Reply
vdubus PRO
2 years ago
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
Technician TOP vdubus
2 years ago
Happy to help
Reply
The move really quick
Reply
MisterTrader
2 years ago
Level Tpo Watch: #AUDCAD resistance at 1.0


I'm on it too. good luck
Reply
prof_snape
2 years ago
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
Full target reached
Reply
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