AUDCAD has been on a strong uptrend and completed a bearish bat. There is an RSI bearish divergence on H4 timeframe. Upon confirmation of the bearish bias, I will go short. Stop loss is just above the X point while the take profit target is set at the 38.2 Fibonacci retracement level of the AD leg. Trade details are as follows:
Trade Setup: Bearish Bat
Price Entry 0.96381
SL 0.97117 | SL pips 73.6
TP1 0.94408 | TP1 pips 197.3
RRR1 2.68
Trade Setup: Bearish Bat
Price Entry 0.96381
SL 0.97117 | SL pips 73.6
TP1 0.94408 | TP1 pips 197.3
RRR1 2.68