AUDCAD Trade Video Clip from 12 Jan 2018 Live Trading Room
We started always with the higher degree time frame and explained to members that the pair shows a bullish sequence from 6 Dec 2017 low (from 0.957) favoring more upside. The rally from there looks to be unfolding in a zigzag (5-3-5) and it has not reached the 100% area. We recommended members to buy the dips at the blue box as the 1 hour chart below shows
Our setup in Live Trading Room is to buy wave 2 dips at 0.984 with stop below 1.618 extension at 0.9795 for a target of 0.995. This gives us a risk to reward ratio of 2.4. Below is the setup in the trading journal that we provided to members during the Live Trading Room
The target profit is hit on Jan 18 for a total of 4.8% profit (2.4 risk-to-reward ratio and 2% risk).
Below is the video clip of our $AUDCAD trade recommendation
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