Short Opportunity for AUDCAD

11 May 2020

AUDCAD has entered into an identified resistance area. I will wait for the breakout of the 1H trendline (pink trendline) to enter a short position on the pullback. My first TP will be on the daily trendline. If the price breaks out of the daily trendline, i will hold the trade to my identified second TP. (Note: i will close half lot when it touches first trendline. If the price breaks out then i will hold other half to second TP. If it doesnt, the half lot i hold will have SL at breakeven)