AUD/CAD, DAY CHART, SHORT (11-DEC-2016)
Note: Is is a TURN Setup or Reversal Trade
The trend now turn to BEARISH
There are 2 ways to short this pair
1. If the price break the support zone around 0.979x strongly,
wait for pullback to the support zone and SHORT
2. If the price bounce back from support zone around 0.979x
Wait it touch the 20-EMA and short when a bearish signal appeared :)
Fundamentally, if Crude price continue the strength, CAD will be stronger and able to push this pair further down.
On Thursday, need to pay attention on AUD employment data :)
If will be a R/R ratio of 1:1 for TP1 and 1:2.5 for TP2
Trade with right risk management and psychology skill :)
The trend now turn to BEARISH
There are 2 ways to short this pair
1. If the price break the support zone around 0.979x strongly,
wait for pullback to the support zone and SHORT
2. If the price bounce back from support zone around 0.979x
Wait it touch the 20-EMA and short when a bearish signal appeared :)
Fundamentally, if Crude price continue the strength, CAD will be stronger and able to push this pair further down.
On Thursday, need to pay attention on AUD employment data :)
If will be a R/R ratio of 1:1 for TP1 and 1:2.5 for TP2
Trade with right risk management and psychology skill :)
