AUD/CAD Short Play HS
Updated
Hey, I hope you guys are doing well. I couldn't trade in the past several weeks because of my final exams but after that, I will get back to full-time trading and will post a lot of charts for you guys!
Trade 1:
Now let's see we have a Head and Shoulder pattern formed here. My plan is to wait for a breakdown of the neckline at 0.9559 which is also the weekly support so considering this is one of the exotic pairs, it might take maybe a week or two. After that my Short Swing Entry will be the retest of the neckline zone and SL at previous fib at 0.96200. Swing Short Target is .618 fib level at 0.93600 this setup gives us a clear R:R of 3.46 and %2.18 gain
Trade 2:
I'm considering myself as an aggressive trader so I like to scalp the daily candles. My second trade with this pair is longing the first breakdown of the neckline at .38 fib level and I will close that trade at the retest of neckline. So this setup gives us R:R of 2.86 and a fast %0.5 gain.
If everything goes according to plan we will have almost %3 gain in 2 trades. Let's see how it goes. Have a nice weekend everyone!
Trade 1:
Now let's see we have a Head and Shoulder pattern formed here. My plan is to wait for a breakdown of the neckline at 0.9559 which is also the weekly support so considering this is one of the exotic pairs, it might take maybe a week or two. After that my Short Swing Entry will be the retest of the neckline zone and SL at previous fib at 0.96200. Swing Short Target is .618 fib level at 0.93600 this setup gives us a clear R:R of 3.46 and %2.18 gain
Trade 2:
I'm considering myself as an aggressive trader so I like to scalp the daily candles. My second trade with this pair is longing the first breakdown of the neckline at .38 fib level and I will close that trade at the retest of neckline. So this setup gives us R:R of 2.86 and a fast %0.5 gain.
If everything goes according to plan we will have almost %3 gain in 2 trades. Let's see how it goes. Have a nice weekend everyone!
Order cancelled
Note
I didn't took this trade but things goes like I expected lol
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