AUDCADAnalysis (Reason for entry):
- Previous resistance on the daily chart just got hit
- Bullish divergence between price action and RSI
- WAIT for price to brake AND close above the EMA(50)
Levels:
Stop Loss: 20 Pips below previous low
Take Profit: You can use a fix take profit or trailing stops (ex. 1R, 2R, 3R)
Wish you a great week!!!
Mr Ross Trader
Note
- Adjusted Stop Loss to current price
- Still waiting for the price to break and close above the EMA (50)
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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.