6.5 Reward/Risk on AUDCAD Setup
AUD is showing some signs of strength on other pairs -- I just entered a long AUDUSD order -- and so I was especially encouraged to see price retrace to support in an uptrend on AUDCAD, and then to see bulls step into defend that level a bit more. We are also at the 50% Fibonacci retracement from the recent swing low to swing high.
This setup involves entering at 1.0140 with a stop loss at 1.0110 and a target profit of 1.0335. This gives a very nice reward/risk of 6.5:1.
informedtrades.com
This setup involves entering at 1.0140 with a stop loss at 1.0110 and a target profit of 1.0335. This gives a very nice reward/risk of 6.5:1.
informedtrades.com
Related publications
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.