AUDCAD | Short H4 | Market Exec | Similar to NZDCAD
Updated
Technical Confluences for Trade:
- Stochastics are in Overbought Conditions on D1, H4 and H1 timeframe
- Price action is at a Supply Zone and has another Consolidation Zone nearby it
- Price action is at the top of a channel resistance
- Targeting the 50% Fibo retracement
Fundamental Confluences for Trade:
- Same setup as the NZDCAD trade I just posted as well
- AUD has a RBA event risk if this trade is taken
Suggested Trade:
Entry @ Area of Interest 0.9030 - 0.9060
SL @ 0.9093
TP 1 @ 0.8983 (Close Half-Position & move SL to Entry level once TP1 is achieved)
TP 2 @ 0.8921
Risk-to-Reward @ Approx. 2.14 (Depending on Entry Level)
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Boosts 🚀, Follows ✌️, Shares 🙌 & Comments ✍️ are much appreciated!
If you have any ideas or charts, do share them in the 'Comments' section below and we can discuss our perspectives to improve or strengthen our strategies.
If you want something analyzed, do drop me a DM. :D
________________________________
Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks.
Any websites / brokers / applications suggested here are also provided as informational purpose only.
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- Stochastics are in Overbought Conditions on D1, H4 and H1 timeframe
- Price action is at a Supply Zone and has another Consolidation Zone nearby it
- Price action is at the top of a channel resistance
- Targeting the 50% Fibo retracement
Fundamental Confluences for Trade:
- Same setup as the NZDCAD trade I just posted as well
- AUD has a RBA event risk if this trade is taken
Suggested Trade:
Entry @ Area of Interest 0.9030 - 0.9060
SL @ 0.9093
TP 1 @ 0.8983 (Close Half-Position & move SL to Entry level once TP1 is achieved)
TP 2 @ 0.8921
Risk-to-Reward @ Approx. 2.14 (Depending on Entry Level)
________________________________
Boosts 🚀, Follows ✌️, Shares 🙌 & Comments ✍️ are much appreciated!
If you have any ideas or charts, do share them in the 'Comments' section below and we can discuss our perspectives to improve or strengthen our strategies.
If you want something analyzed, do drop me a DM. :D
________________________________
Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks.
Any websites / brokers / applications suggested here are also provided as informational purpose only.
________________________________
Trade closed: stop reached
SL hit.Moving on to the next trade.
Protect the capital. :D
Disclaimer: The personal opinion above does not constitute as an investment advice. Any decisions taken based on the above opinion is purely at your own risks. DYOR.
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