Thursday, 8 March 2012

AUD/CAD Analysis

Bearish candle on the daily timeframe. Trend turned down, Moving averages pointing down. Rejection off 8ema. Weekly timeframe also rotating down. Order to short on a 50% retrace of candle. Only risk is potential resistance at around 10456 area but hope to have stop to b/e by then

STOP: 10618
ENTRY: 10564
LIMIT: 10402

RISK/REWARD: 3/1

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