AUDCAD looks like going to push further down, as it went past the small support-turn-to-resistance and rejecting a little. Targeting the next support area with 1:2 RR.
Note: This week, I'm trying up again the simple S&R method, trying not to put too much things on chart, and focusing on what I think it's going to work. On the chart, I plot 2 simple S&R area, identify the trend, then take trade of 1:2 RR with the trend, just set and forget. As simple as that.
However, here's my action next:
Note: This week, I'm trying up again the simple S&R method, trying not to put too much things on chart, and focusing on what I think it's going to work. On the chart, I plot 2 simple S&R area, identify the trend, then take trade of 1:2 RR with the trend, just set and forget. As simple as that.
However, here's my action next:
- If it goes to 1:1 RR, I'll take partial profit, and then set BE (so it's risk-free trade, in fact, securing 1R in the pocket).
- I will not monitor losing trades.