AUDCAD Short Update (500 Pip Move?)

1 thg 7, 2022

Recently, I shared an idea about AUDCAD breaking through a support level and pushing downwards. I entered the trade, secured partial profits, and expect price to fall to my initial TP target of 0.87. Additionally, I have added an ambitious second target around the covid lows of 0.83. If price pushes past my first target, I plan on staying in the trade until the next target is reached or until price crosses above the 200 EMA.

Nothing is 100% certain in the markets, so we will see where this pair is headed in the near future. Remember to use proper risk management!