AUDCAD - Sell at Sell Point
Updated
Hi Traders!
The market is in a downtrend.
As you can see the trendline - which is drawn on the H4 Timeframe - is giving pressure
to the downside.
At the moment the market is in an upmovement, which is a parallel channel.
Now the market has to make a downmovement - but when?
The best opportunity for us is, that the market get as near as possible to the trendline.
After that we wait for a break of Parallel channel and then we will take this trade.
Our risk-to-reward ratio is 1 to 2.
The red sell point only shows, that this is the perfect time to enter this trade.
We won't trade if the market breaks the Parallel Channel under or above this point.
That would make this idea invalid.
We recommend to sell the breakout of the Parallel Channel when the market reaches the sell point!
Thanks and good luck :)!
The market is in a downtrend.
As you can see the trendline - which is drawn on the H4 Timeframe - is giving pressure
to the downside.
At the moment the market is in an upmovement, which is a parallel channel.
Now the market has to make a downmovement - but when?
The best opportunity for us is, that the market get as near as possible to the trendline.
After that we wait for a break of Parallel channel and then we will take this trade.
Our risk-to-reward ratio is 1 to 2.
The red sell point only shows, that this is the perfect time to enter this trade.
We won't trade if the market breaks the Parallel Channel under or above this point.
That would make this idea invalid.
We recommend to sell the breakout of the Parallel Channel when the market reaches the sell point!
Thanks and good luck :)!
Trade closed: target reached
Hey Traders! This idea was perfect and we have a Profit of 68pips!
Have a nice week-end!
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