AUDCAD has been bearish on the H4 chart. The price has been making lower lows. The price is on consolidation. If we see a breakout, then selling the pair would get us green pips. Let us have a look at the H4 chart of AUDCAD…
AUDCAD Free Forex Trading Signals – 10th April 2017
As we see that, the pair has been bearish from 1.02400. It came down up to 1.00230. Then, the pair is on consolidation. The level of 1.00630 has been the level of resistance. We have had a bearish H4 candle already from that level. If we get an H1 break at 1.00230, then the pair would go towards the South. There is enough room for the pair to go and make new lower lows.
Let us have a look at the summary of the trade
- Sell Stop Order: 1.00230
- Stop Loss Level: 1.00630
- Take Profit Target: 0.99850
Here we are actually waiting for a breakout at 1.00000. This is a “Big round number”. In the Forex market, “Big round number” plays an important role. Traders set their Stop loss or Take profit by keeping this in mind. Thus, it is not an easy thing to get a breakout at a “Big round number”. However, if a breakout does happen, it normally is a big breakout. Let us assume that we get the breakout and make profit on it as per our trade setup. However, one thing we have to make sure here that the breakout is a solid breakout without any sort of confusion.
You can also take a look at our previous (and most likely profitable) Free Forex Trading Signals Here.
We hope that you enjoy our Free Forex Trading Signal today: AUDCAD Free Forex Trading Signals – 10th April 2017
The post AUDCAD Free Forex Trading Signals – 10th April 2017 appeared first on Advanced Forex Strategies.
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