AUDCAD: Selling Opportunity
Yesterday, I wrote about a possible selling opportunity in this market. You can find this post in the related ideas. We have bearish signals in the daily timeframe.
If we look at the 4H chart, we will see a pullback from the resistance zone and a breakout below the local uptrend line. It gave an entry point for short trades. If you missed that signal, it's better to wait for a new breakout below the main uptrend line or a reversal from the resistance zone, if the buyers try to reach it one more time.
Stop orders must be placed above the resistance and the local swing high. Profit targets can be placed at 0.92000 and 0.91000 support. Risk per trade must be no more than 1-2% from the capital.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
If we look at the 4H chart, we will see a pullback from the resistance zone and a breakout below the local uptrend line. It gave an entry point for short trades. If you missed that signal, it's better to wait for a new breakout below the main uptrend line or a reversal from the resistance zone, if the buyers try to reach it one more time.
Stop orders must be placed above the resistance and the local swing high. Profit targets can be placed at 0.92000 and 0.91000 support. Risk per trade must be no more than 1-2% from the capital.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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