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AUDCAD Bullish Cypher And Potential Long Opportunity Update: TP2 Rached

AUDCAD Bullish Cypher And Potential Long Opportunity

Published: 07-23-2018

Pair / Instrument: AUDAD

Time Frame: H4

The trend in the Timeframe: NEUTRAL

The trend in the Daily Chart: NEUTRAL

Description:  Testing the support zone. Bullish Cypher completed at 0.97050 and Bullish Shark will be completed at 0.96800.

Trade Based On: Support and Bullish Harmonic Patterns

Accuracy: %95

Trade: LONG

Entry: 0.97060

Stop Loss: 0.96500

Take Profit 1: 0.97400

Take Profit 2:  0.97800

Extended Target: 0.98200

Update: We reached the first target. Close 50% of the positions and move SL to entry. Add long if the price breaks above 0.97600 

Update 2: TP2 Reached and trade closed with 75 pips

Notes: Wednesday Asia Session Australia Q2 CPI will be released. Risk of high volatility.

You can follow the trade: AUDCAD Trade Idea

 

Rules To Keep In Your Mind:  Trade Safe. Money  Management is the key to success in forex trading. Do not risk more than 1% of your account in each trade.

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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money

 

AUDCAD Trade Idea  Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

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