AUD/CAD Short Trading Plan (Daily Timeframe)
Simple Setup:
Wait for price to approach and test the 20-day SMA (currently around 0.88419)
Look for a clear rejection from this level, shown by a bearish daily candle
Major resistance zone: moving average, and resistance retest
Break of support level
Entry:
Enter short on daily close below 0.88419 after MA rejection or bearish candle
Stop Loss:
Place stop 80 pips above entry or just above the 0.9000 resistance
Take Profit:
TP1: 0.8620
TP2: 0.8510
Key Rules:
Only enter if daily candle shows clear rejection from SMA
Maintain 1:2 risk-reward ratio minimum
Be patient and wait for proper setup on daily timeframe
Monitor daily close for confirmation
Simple Setup:
Wait for price to approach and test the 20-day SMA (currently around 0.88419)
Look for a clear rejection from this level, shown by a bearish daily candle
Major resistance zone: moving average, and resistance retest
Break of support level
Entry:
Enter short on daily close below 0.88419 after MA rejection or bearish candle
Stop Loss:
Place stop 80 pips above entry or just above the 0.9000 resistance
Take Profit:
TP1: 0.8620
TP2: 0.8510
Key Rules:
Only enter if daily candle shows clear rejection from SMA
Maintain 1:2 risk-reward ratio minimum
Be patient and wait for proper setup on daily timeframe
Monitor daily close for confirmation
Trade active
still bearishOrder cancelled
No rejectionfailed break out and price created low higher instead
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.
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.