AUDCAD long entry at the retest of the trendline

9 avr. 2016

Hi traders,

On the AUDCAD I am looking to enter long around 0.977 area.
My reasons for this long:

• Retest of the trendline breakout
  
• 0.618 fib retracement of the daily move
  
• 0.382 fib retracement of the weekly move
  
• 0.618 fib retracement of the monthly move
  
• Previous structure
  

Entry, stop and targets are based on structure. Target 2 is just below the 1.00 mark. This is a huge psychological point and very hard to break.

Entry: 0.977
Stop: 0.9688
Target 1: 0.9875
Target 2: 0.9980

Will keep this chart updated as time progresses.

Best of luck!

11 avr. 2016

Transaction en cours

14 avr. 2016

Note

Target 1 hit.
Stop moved to entry.

14 avr. 2016

Note

And took half my position off.