AUDCAD 1H - Forming a Bearish Flag
Analysis:
AUDCAD 1H is currently in a bearish trend. If the price breaks below 0.90685 which is bear flag pole level, it will be a sign of bear trend continuation. In this case we can enter in a short trade. For this trade the stop loss will be at 0.91396.
------ Trade Plan ------
Type: Short
Entry: 0.90685
Stop Loss: 0.91396
Position: 0.1841
TP1: 0.89974 (Risk Reward 1:1)
TP2: 0.89582 (Price Projection)
AUDCAD 1H is currently in a bearish trend. If the price breaks below 0.90685 which is bear flag pole level, it will be a sign of bear trend continuation. In this case we can enter in a short trade. For this trade the stop loss will be at 0.91396.
------ Trade Plan ------
Type: Short
Entry: 0.90685
Stop Loss: 0.91396
Position: 0.1841
TP1: 0.89974 (Risk Reward 1:1)
TP2: 0.89582 (Price Projection)
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