Wednesday, 28 September 2011

AUD/CAD Analysis

A bearish pinbar has formed on the daily timeframe. It has come off 10122 support which was previous strong support on the bullish side. 2 Rejections of 8ema as well. With the trend. Theres a clear triple top on the weekly timeframe which gives weight to the bears. Have placed a short order as per below:

STOP: 10170
ENTRY: 10122
LIMIT: 9978

RISK/REWARD: 3/1

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