Analysis on AUD/CAD (short)
Updated
I have been short this pair since 6/2/20 after it rallied into a great resistance zone. After a confirmation candle closed on the 1D I set a pending order to short this pair. I am looking at taking it to the previous low, but i expect it to move to the bottom trend line as I believe we are now in a down trend.
Risk:reward was 1:2 but after moving my SL to my entry point, this trade is now risk free.
Risk:reward was 1:2 but after moving my SL to my entry point, this trade is now risk free.
Trade closed: target reached
Closed out this trade for a lovely gain. Price did however go future than expected.Disclaimer
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