Bullish Outlook for AUD/CAD - Entry Opportunity Identified
Overview:
AUD/CAD completed XABCD harmonic pattern, finding strong rejection at point D (0.87200). Price now re-testing key support, suggesting bullish potential.
Entry:
Consider entry at current price 0.88160 to align with anticipated bullish sentiment.
Risk Management:
Place stop-loss at 0.87200 to mitigate downside risk.
Profit Targets:
TP-1: 0.89140, TP-2: 0.90100 for optimal trade management.
Rationale:
Recent rejection at point D and price action support bullish bias. Prudent risk management is advised.
Conclusion:
Favoring bullish stance on AUD/CAD. Entry at 0.88160 with defined risk and reward. Monitor closely for optimal outcomes.
Disclaimer:
Forex trading carries risks. This analysis is for guidance only, not financial advice. Consult a qualified advisor before trading.
Note
We are 2% in profit. You can breakeven this trade now.Trade closed: target reached
TP-1 reached, Hold your trade for TP-2.
Use Trailing Stop Loss.
Trade closed: target reached
TP-2 reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.