AUD/CAD - Short the Bear Flag.
Aggiornato
Hey, I am back with another idea this time looking at AUD/CAD which is in a Bear flag.
Best possible entry for this flag would be 0.95600, with a tight stop loss as when this level gets broken more than by 10 pips, this would deny the pattern.
On 15 min chart we can see that the price is trying to break the resistance of 600, but it's missing way more momentum for the break, so entry at 0.95550 is also good for this short trade, but then you SL would be 15 pips and not 10.
Also notice the MACD that is about to give a sell signal if strong buying volume doesn't come. Same for RSI if drops below 60, it's going down.
And that's all from me about AUDCAD, good luck with this trade!
Cheers,
Tibor
Best possible entry for this flag would be 0.95600, with a tight stop loss as when this level gets broken more than by 10 pips, this would deny the pattern.
On 15 min chart we can see that the price is trying to break the resistance of 600, but it's missing way more momentum for the break, so entry at 0.95550 is also good for this short trade, but then you SL would be 15 pips and not 10.
Also notice the MACD that is about to give a sell signal if strong buying volume doesn't come. Same for RSI if drops below 60, it's going down.
And that's all from me about AUDCAD, good luck with this trade!
Cheers,
Tibor
Trade chiuso: obiettivo raggiunto
Take profit hit! +30 pips
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