AUD/CAD has reached a key resistance zone around 0.908 - 0.909, aligning with previous highs and the 200-day moving average. I’ve entered a short position, anticipating a potential rejection from this level.
🔹 Trade Setup:
🔻 Entry: Near 0.908 - 0.909 (Key Resistance)
🎯 Profit Target (Blue Zone): 0.903 - 0.902
🛑 Stop-Loss (Yellow Zone): Above 0.909
🔹 Market Outlook:
📊 Bearish Bias – Price has rejected this zone before, and I’m expecting sellers to step in again.
⚠️ Risk Management – If price breaks and holds above 0.909, the short trade will be invalidated.
Watching for bearish confirmation—will we see a rejection, or is AUD/CAD breaking out? Let me know your thoughts below! 👇
🔹 Trade Setup:
🔻 Entry: Near 0.908 - 0.909 (Key Resistance)
🎯 Profit Target (Blue Zone): 0.903 - 0.902
🛑 Stop-Loss (Yellow Zone): Above 0.909
🔹 Market Outlook:
📊 Bearish Bias – Price has rejected this zone before, and I’m expecting sellers to step in again.
⚠️ Risk Management – If price breaks and holds above 0.909, the short trade will be invalidated.
Watching for bearish confirmation—will we see a rejection, or is AUD/CAD breaking out? Let me know your thoughts below! 👇
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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.