Very clear and simple 2618 setup here on AUDCAD.
Nice second target confluence just above the 0.97 psychological resistance.
Entry: 0.97770
Stop: 0.98230
Target 1: 0.97230
Target 2: 0.97020
Keep in mind that the 2618 strategy has a win rate of 55-65%, and a R:R > 1:1. Trade it if it is in your plan and you have done the backtesting on this strategy. Remember: Very few people enjoy the grind of going through historical candles individually, however it is a necessary commitment to make. The level of confidence it brings you in faithfully executing the trading plan is considerable.
Good trading,
Luke
Nice second target confluence just above the 0.97 psychological resistance.
Entry: 0.97770
Stop: 0.98230
Target 1: 0.97230
Target 2: 0.97020
Keep in mind that the 2618 strategy has a win rate of 55-65%, and a R:R > 1:1. Trade it if it is in your plan and you have done the backtesting on this strategy. Remember: Very few people enjoy the grind of going through historical candles individually, however it is a necessary commitment to make. The level of confidence it brings you in faithfully executing the trading plan is considerable.
Good trading,
Luke