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AUDUSD Trendline Breakout and Potential Short Opportunity

AUDUSD Trendline Breakout and Potential Short Opportunity

Published: 08-07-2018

Pair / Instrument: AUDCAD

Time Frame: H1

The trend in the Timeframe: BULLISH

The trend in the Daily Chart: BEARISH

Description: After completing the bearish XABCD Harmonic pattern, AUDUSD is testing the 0.74150 support. Breakout of the trendline may lead the pair below 0.73900.

Trade Based On: Trendline Breakout

Accuracy: %96

Trade: SHORT

Entry: 0.74150 ( Possible breakout level)

Stop Loss: 0.74420

Take Profit 0.73900

Take Profit 2: 0.73700

Ultimate Target: 0.73550

Note: You need to wait for the breakout of the trendline.

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

 

 

AUDUSD: 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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