AUDCAD: Potentially very interesting setup
Updated
In the current enviroment, it's nice to add a 'long Canada/short Asia' trade, and this is what this setup is.
Currently the trend is up in the weekly but there seems to be a chance for a sharp decline in the daily chart.
Risk to reward makes for a great trade if it works, so it's worth it to risk at least 1/2 position on it.
Props to Synapse here for mentioning this pair to me today, I've been waiting to long Canada again, and this seems like a good vehicle for such trade.
Good luck if taking it!
Cheers,
Ivan Labrie.
Currently the trend is up in the weekly but there seems to be a chance for a sharp decline in the daily chart.
Risk to reward makes for a great trade if it works, so it's worth it to risk at least 1/2 position on it.
Props to Synapse here for mentioning this pair to me today, I've been waiting to long Canada again, and this seems like a good vehicle for such trade.
Good luck if taking it!
Cheers,
Ivan Labrie.
Trade active
Forgot to post, trade active...I actually added to it a bit earlier.Note
Might be safer to reduce exposure to this trade by keeping the first entry and trimming the add.Trade closed manually
(I forgot to update, I got out of this one after price action started shaking around)It's safer to not touch this pair now.
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