AUDCAD
Analysis (Reason for entry):
- Previous resistance on the daily chart just got hit
- Bullish divergence between price action and RSI
- WAIT for price to brake AND close above the EMA(50)
Levels:
Stop Loss: 20 Pips below previous low
Take Profit: You can use a fix take profit or trailing stops (ex. 1R, 2R, 3R)
Wish you a great week!!!
Mr Ross Trader
- Adjusted Stop Loss to current price
- Still waiting for the price to break and close above the EMA (50)