AUDCAD - Bullish Trend - 1H Time Frame
Based on the current price chart, it appears that the market is forming a bullish trend, as evidenced by the presence of higher highs (HHs) and higher lows (HLs). Additionally, there is currently no divergence showing on the Relative Strength Index (RSI).
As a result of this analysis, we will take a long trade with a 1:1 risk/reward ratio.
Trade Long
Buy Stop = .90749
Stop Loss = 0.90188
Lot Size = 0.19
Take Profit 1 = 0.9131
Take Profit 2 = 0.91871
Please note that this is my personal analysis and trade plan, and it is important for you to conduct your own research and risk management strategies before making any trading decisions.
As a result of this analysis, we will take a long trade with a 1:1 risk/reward ratio.
Trade Long
Buy Stop = .90749
Stop Loss = 0.90188
Lot Size = 0.19
Take Profit 1 = 0.9131
Take Profit 2 = 0.91871
Please note that this is my personal analysis and trade plan, and it is important for you to conduct your own research and risk management strategies before making any trading decisions.