AUD/CAD Price Forecast 9th October 2024

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AUDCAD Price Forecast 9th October 2024

Strategy: 3/12 Tunnel

The 3/12 Tunnel is a trend-following strategy. This straightforward approach utilizes 3 moving averages has undergone extensive backtesting by our team, demonstrating a winning ratio between 70% and 80%.

Recommended Timeframe

This strategy is adaptable to various timeframes, including H1, H4, and Daily. Although it can be applied to timeframes lower than H1, optimal results are typically achieved within the H1, H4, and Daily timeframes.

Trade Details

Currently, the 3/12 Tunnel strategy has identified a trading opportunity on the AUD/CAD pair within the H1 timeframe. I’ve shared a trade setup image for your reference. The details of the trade are as follows:

Pair: AUD/CAD
Timeframe: H1
Buy Stop: 0.92165
Stop Loss (SL): 0.91885
Take Profit (TP) 1: 0.92285
Take Profit (TP) 2: 0.92365
Take Profit (TP) 3: 0.92485

Lot Size

For risk management, ensure you do not risk more than 2% of your account per trade. For instance, with a $10,000 account, the maximum risk should be $200.

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Tim Morris

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