Prepare for another Pullback
The price of the AUDCAD has fallen sharply in recent months.
Nevertheless, it can be observed that the price repeatedly shows corrections in the long direction.
Such a pullback could now be imminent again.
We wait with the entry until the price reaches the area at 0.8580 to optimize our risk-reward profile.
We set a tight stop loss and target the lower edge of a sliding zone, which also forms the 38.2% retracement of the recent overarching upward movement.
Thus, the trade offers an RRR of 2.8:1.
Nevertheless, it can be observed that the price repeatedly shows corrections in the long direction.
Such a pullback could now be imminent again.
We wait with the entry until the price reaches the area at 0.8580 to optimize our risk-reward profile.
We set a tight stop loss and target the lower edge of a sliding zone, which also forms the 38.2% retracement of the recent overarching upward movement.
Thus, the trade offers an RRR of 2.8:1.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.