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 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 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.