Rectangle on AUD/CAD @ D1
This rectangle pattern on the daily chart of AUD/CAD offers two potential breakout trading opportunities (bullish and bearish). The borders of the rectangle are marked with the yellow lines. My potential entry levels are where the cyan lines are. My potential take-profit levels are at the green lines. They are based on the rectangle width - 10% for the Entry lines and 100% for the TP lines. The stop-loss can be set to the low/high of the respective breakout candle (not shown on the chart).
Trade active
Short entry triggered today at 13:04 UTC today. The entry is at 0.89253 with SL at 0.89716 and TP at 0.87780.Trade closed: stop reached
SL triggered at 7:47 UTC today.
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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.
You can find useful tools to detect, build, and trade chart patterns - all completely free on earnforex.com.
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.