AUDCAD - Short opportunity from Daily Supply Zone

AUDCAD is Currently in a daily supply zone, so we expect this pair to trade lower for the coming few days or weeks.

Sellers will make their move now that we created a fake breakout to the upside, trapping many buyers into their positions.

Just entered a short position based on the 4H timeframe.
#Stoploss well above the high and #Takeprofit at a RR of 1:3

We will see what happens!

Note

Trade Update: We are curently running at 1% profit on this trade. Not taking any action yet. Will move my Stoploss to Break-Even when we hit that 2% mark and run 130 Pips in profit.

FX_minds

The Dutch Online Trading Program

Here to Teach, Share and Inspire other ambitious Traders.

Download Our Free E-Book at: fxminds.nl/book (Dutch Only)

Become a Member of the FXminds Community at: fxminds.nl/aanmelden (Dutch Only)

Also on:

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.

FX_minds

Also on: