AUDCAD SHORT Why are we entering? - Expecting AUD weakness and CAD strength - We are approaching a structure level and descending trendline - We are approaching our DAILY EMA
What are we waiting for to happen? - Rejection of trendline & structure level - Price to reject our DAILY EMA - Break of possible RISK trendline
Entry SAFE Entry: Rejection structure level, trendline & DAILY EMA & a break of our possible RISK trendline RISK entry 1: Rejection structure level, trendline RISK entry 2: Early break of possible RISK trendline
Once entered, where will our Stoploss be? - Above the structure zone & trendline (above 0.923) 30 pips
Where do we take profits? - Secure profit multiple times along the way (30 pips, 60 pips, 120 pips, 200 pips) - First TP - First structure zone / previous low : 0.891 (290pips) - Final TP - Channel support : 0.873 (470pips)