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TrevaughnSmith
Jan 13, 2020 6:03 PM

AUDCAD Intra-day to Swing Short Short

Australian Dollar/Canadian DollarFXCM

Description

I've been playing AUDCAD long/short for the last 3 weeks....

I'm short again for a potential 7:1 R:R

Trade active

13 Pips in profit, I believe we are about to see another wave down. Stops to B/E

Trade closed manually

Closing out a few pips in profit. Still being manipulated.

Trade active

Trade closed manually

Comments
TrevaughnSmith
Also to note, when price retested the yellow resistance zone near the highs we had multiple rejections and I could've caught better entries. That's all good though, it seems price is being held near the highs for a strong move this evening/London session
TrevaughnSmith
Was only able to check the charts now, I see that price moved at least 24 pips during the London session to the downside. I did forget to put my tp areas on this. I have a strategy where I scale out of positions once it moves 2x my risk by cutting down my volume in half. It allows me to put greed on chill and focus on maximizing the move. Also as noted before I'm always looking to add on pull-backs...we'll cover that later on
TrevaughnSmith
Just a note I look to Risk 0.005% per trade....as I always add to winning to positions
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