AUDCAD: Price Reversal from 0.94000 Resistance
The price is forming a reversal candlestick pattern in the daily timeframe. RSI is in the overbought zone, and it will be able to give a solid bearish signal. The market made an upside movement after a breakout above previous resistance. Now the price is at 0.94000 resistance, and we should be ready to see a pullback.
It is a possible selling opportunity where you can search for exact entry points in the daily and hourly charts using reversal and breakout signals. Stop orders must be placed above the daily swing high and 0.94000 resistance. The main profit target can be at 0.91000, which acts now as a support zone. Risk per trade must be no more than 1-2% from the capital.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
It is a possible selling opportunity where you can search for exact entry points in the daily and hourly charts using reversal and breakout signals. Stop orders must be placed above the daily swing high and 0.94000 resistance. The main profit target can be at 0.91000, which acts now as a support zone. Risk per trade must be no more than 1-2% from the capital.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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