AUDCAD (RANGING TRADE) (EDUCATION)
AUDCAD in 12 H timeframe
1) Price move in downtrend
2) Price break previous resistance then reverse to down side, then price break the support level before moving up and close within support by DOJI candlestick pattern.
3) The bullish divergence happen at the same time.
The risk reward ratio in this set up is great.
The stoploss level is below the support ( I make it wider than normal people because i need more room for the trade to play out)
The profit target is at the current high.
Therefore, i decide to risk 0.2% of portfolio to gain 0.6%
1) Price move in downtrend
2) Price break previous resistance then reverse to down side, then price break the support level before moving up and close within support by DOJI candlestick pattern.
3) The bullish divergence happen at the same time.
The risk reward ratio in this set up is great.
The stoploss level is below the support ( I make it wider than normal people because i need more room for the trade to play out)
The profit target is at the current high.
Therefore, i decide to risk 0.2% of portfolio to gain 0.6%