AUDCAD is on a downward trend and is capped by the fibbo resistance around 0.9409 and the downward trend line just above that. The asset remains responsive to risk off mood which we could see play out with the current volatility that lies ahead around the US election. I have opened a short at 0.9403, SL 0.9420 (close) and finally a TP 1: 0.9347 TP2: 0.9303
Note
Closed half the position at 0.9376 for a profit of +27 pips! leave the rest to run in the profit for now.Note
CLOSED ALL @ 0.9361 +56 pips Just ahead of the 0.9347 fibbo support. A total of +83 pips made on this trade.
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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.