Get started
thetradeWELL

AUDCAD LONG Trade Management

Long
Australian Dollar/Canadian Dollar (OANDA:AUDCAD)  
thetradeWELL Updated   
OANDA:AUDCAD   Australian Dollar/Canadian Dollar
Trend Analysis Supply and Demand Fibonacci aud CAD AUDCAD takeprofit Forex fx forexsignals Trade Management Contains IO script
0
0
trendanalysis supplyanddemand fibonacci aud cad audcad takeprofit forex fx forexsignals trademanagement containsioscript
I am currently long AUDCAD with +480 pips across two lots. Price has reached an untested supply zone and is also up against a 78.6 fib extension and 50.0 fib retracement level. I am going to go ahead and scale down my positions, take profit and move my stops to trail from break even. Short, medium, and long term indicators support both a strengthening Aussie and Canadian dollar, which can be a little tricky to navigate. In a perfect world you want to see one strong and/or strengthening currency against a weak and/or weakening. Thus I think it prudent to go ahead and take some dinero off the table.
Comment:
Current Trades:

1,125 lots @0.87672 +270 pips
1,300 lots @0.88029 +234 pips
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.