AUD/CAD Double Top Reversal Pattern Analysis: ๐Ÿ“‰๐Ÿ“ˆ

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Greetings, traders! Let's delve into the analysis of the AUD/CAD daily chart, which is showcasing a compelling trading opportunity:
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Pattern Identified: ๐Ÿ“Š

Double Top Reversal Pattern.
Current Price Position: ๐Ÿ“ˆ๐Ÿ“‰

The price has broken below the Neckline at 0.88775.
Trading Plan: ๐Ÿ“‰๐Ÿ“ˆ

Neckline Breakout:
The breakout below the Neckline at 0.88775 suggests a potential bearish reversal.
Targets: ๐ŸŽฏ

Target the 100% retracement level at 0.86900 for a potential downside objective.
Risk Management: โš–๏ธ๐Ÿ›ก๏ธ

Implement a sound risk management strategy, including the use of stop-loss orders to mitigate potential losses.

Best of luck with your trading decisions! ๐Ÿš€๐Ÿ“Š

Penafian

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