1 hour time frame:
Although I think that we might see a slightly higher high for AUDCAD , this pair showed a impulse today in the shape of what seems to be an ABC pattern. However that is too soon to tell. What we can tell is that we see hidden on the 1 hour time frame warning us for a possible reversal.
15 min time frame:
The 15 min time frame shows us for a possible reversal. The question is whether the impulse of today was only a wave A by means of an ABC lower or whether this was the whole correction by means of a strong corrective leg.
Short term I will be focusing on a potential reversal. Depending on whether moves corrective or impulsive I will look to either short the third leg lower or keep the potential buy for a new high.
I got stopped out for a risk/reward of 3.23/1
All the time that I adjusted my stop loss you could have added another buy trade. I personally did not do that.
Hope this post helps you understanding my trading.
This is also why I didn't add on to my buy trade. I have to follow my rules regardless of the set-up.