ForexRobotNation.com – Best Forex Robot & Expert Advisor Reviews Forex Robot, Expert Advisor AUD/CAD Long-Term Trend: Bearish
Key Resistance Levels: 0.89003, 0.89339, 0.89800
Key Support Levels: 0.88508, 0.88122, 0.87858
Daily Chart:
The price on the higher time frame has been in a downtrend recently after it faced resistance at a major level of 0.90293 and reversed. The pair has broken a support level of 0.88996 which suggests further trend continuation.
AUD/CAD Medium-Term Trend: Bearish
1-Hour Chart:
On the lower time frame, the pair is moving in the major trend’s direction. It broke a consolidation zone of 0.89800 and 0.89339 and has sustained below that. As of now the pair has broken and retested a minor level of 0.89003 before continuing the momentum.
Signal Idea:
Sell Limit Order @ 0.88810
TP @ 0.88509
Stop Loss @ 0.89110
Trade Safely 🙂
Can you explain the trade? Your sell limit order price doesn’t make sense.
The trade gets triggered when it reaches 0.88810 What doesn’t make sense?
The price is 0.8825 right now, you are expecting it to go up to 0.88810?
Yep a pullback to the entry zone.
So you’re expecting it to raise from 0.88630 (current price) to 0.88810, (we buy here), and then drop to 0.88509?