AUDCAD long entry at the retest of the trendline
Updated
Hi traders,
On the AUDCAD I am looking to enter long around 0.977 area.
My reasons for this long:
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!
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!
Trade active
Comment
Target 1 hit.Stop moved to entry.
Comment
And took half my position off.Related publications
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