Short on AUD/CAD 12-26-21
AUD/CAD is currently in a downward channel
Price has stalled and traded sideways for the past 2 days at a resistance zone.
I am waiting for price to break below the uptrend line on the 1hr timeframe which is extremely close to doing so at the moment.
I have set the following pending sell stop order to capitalize off the trendline break.
PAIR = AUD/CAD
ORDER TYPE = SELL STOP (PENDING ORDER)
LOT SIZE = Micro lot (0.01) (0.02)
ENTRY PRICE = 0.92228
STOP LOSS = 0.92999 - 77 PIPS / $7.70 LOSS
TAKE PROFIT = 0.90021 - 220 PIPS / $22.20 GAIN
Price has stalled and traded sideways for the past 2 days at a resistance zone.
I am waiting for price to break below the uptrend line on the 1hr timeframe which is extremely close to doing so at the moment.
I have set the following pending sell stop order to capitalize off the trendline break.
PAIR = AUD/CAD
ORDER TYPE = SELL STOP (PENDING ORDER)
LOT SIZE = Micro lot (0.01) (0.02)
ENTRY PRICE = 0.92228
STOP LOSS = 0.92999 - 77 PIPS / $7.70 LOSS
TAKE PROFIT = 0.90021 - 220 PIPS / $22.20 GAIN
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.