I'm looking to sell AUDCAD at 0.9045, targeting a move lower based on key technical confluences.
🔹 Key Reasons for Entry:
Resistance Zone: The price is testing a key resistance level around 0.9045, which has previously acted as a rejection point.
Moving Averages: Price is near the [insert MA: 50/100/200 EMA/SMA], aligning with strong resistance.
Trend Structure: AUDCAD is in a bearish structure on the [H4/Daily] timeframe, forming lower highs.
Fibonacci Confluence: 0.9045 aligns with the [38.2% / 50% / 61.8%] retracement level from the last swing.
📉 Trade Plan:
Sell Limit: 0.9045
Stop Loss: [Your SL level]
Take Profit: [Your TP level]
Risk-Reward Ratio: [Your RR, e.g., 1:2]
If the price confirms rejection at this level, I expect further downside towards the [support level, e.g., 0.8950].
Let me know your thoughts! 📊🔥
Feel free to adjust SL/TP levels based on your strategy. Would you like me to add any additional details?
🔹 Key Reasons for Entry:
Resistance Zone: The price is testing a key resistance level around 0.9045, which has previously acted as a rejection point.
Moving Averages: Price is near the [insert MA: 50/100/200 EMA/SMA], aligning with strong resistance.
Trend Structure: AUDCAD is in a bearish structure on the [H4/Daily] timeframe, forming lower highs.
Fibonacci Confluence: 0.9045 aligns with the [38.2% / 50% / 61.8%] retracement level from the last swing.
📉 Trade Plan:
Sell Limit: 0.9045
Stop Loss: [Your SL level]
Take Profit: [Your TP level]
Risk-Reward Ratio: [Your RR, e.g., 1:2]
If the price confirms rejection at this level, I expect further downside towards the [support level, e.g., 0.8950].
Let me know your thoughts! 📊🔥
Feel free to adjust SL/TP levels based on your strategy. Would you like me to add any additional details?
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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.
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.