Hello Traders,
Recently, we've seen bullish behaviour on the AUDCAD. We can see two bullish impulses and the break of a flag pattern.
Now price has returned for a retest and that's where we'd like to go long.
I set a BUY LIMIT order above the retest and set the SL below the low of the flag pattern. TP is set at the high of our range. See the arrows for my graphical projection.
Resistances: 0.95416, 0.95682
Supports: 0.94987, 0.94743, 0.94544
Trade characteristics: Trend continuation with limit entry on a pullback
Expected trade duration: 1-2 days
Risk-to-Reward-Ratio: 1.99
Any Likes or Opinions in the comment section are appreciated. I also post regularly, so if you like my content, make sure to follow me. :)
Recently, we've seen bullish behaviour on the AUDCAD. We can see two bullish impulses and the break of a flag pattern.
Now price has returned for a retest and that's where we'd like to go long.
I set a BUY LIMIT order above the retest and set the SL below the low of the flag pattern. TP is set at the high of our range. See the arrows for my graphical projection.
Resistances: 0.95416, 0.95682
Supports: 0.94987, 0.94743, 0.94544
Trade characteristics: Trend continuation with limit entry on a pullback
Expected trade duration: 1-2 days
Risk-to-Reward-Ratio: 1.99
Any Likes or Opinions in the comment section are appreciated. I also post regularly, so if you like my content, make sure to follow me. :)