RALLY ON AUD CAD CONFIRMS THE WARNING GIVEN TO TRADERS



The AUD CAD had given us Bearish Signals recently to indicate that a trading opportunity was possible in sync with our 70-Pip Trading Strategy...





(See Website for Trading Strategy)




This was based on the pattern of candles on the Daily and 4H Charts that showed the market breaking an Uptrend Line and providing a Bearish Entry Signal. However, this Signal was not appropriate based on the rules of my strategy and I had sent out a warning to my Subscribers...








If we had entered the market, this would have been the setup...








The Stop Loss would have been 60 Pips - above our 40-Pip Maximum - and the target would have been 70 Pips...








However, as you can see, at the end of 24 Hour Holding Period for our trades, the market had pulled back without hitting the target....







...this would have led to us having to close the trade with a 8 Pip Loss...








Had we held it longer, the trade would have been stopped out for an even larger loss....










CHOOSING THE RIGHT CANDLESTICK SIGNALS


So this confirmed that if the Candle that we see on the 4 Hour Chart is inappropriate - despite the overall direction of the market- it can be risky to trade. This why we have to be aware of the type of signals that are profitable and those that are not worth the risk. All of this is explained in the sections of the Trading Manual that deals with Candlestick Signals and Setups...











Once you know the difference between the Reliable and Risky Candles, you can avoid these market traps and focus on the Profitable Trades.



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Your Mentor



Duane Shepherd
(M.Sc. Economics, B.Sc. Management and Economics)
Currency Analyst/Trader
shepherdduane@gmail.com /(876)-3825648
Twitter: @WorldWide876
Facebook: DRFXTRADING

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