A Long Awaited LONG position on AUDCAD

17 Nis 2023

ACAD (Australian Dollar vs Canadian Dollar) broke past the support last week but quickly recovered this week which makes it seems like a false break. My Long entry was fueled by a Divergence on the RSI as well. Well, what do I loss just 15 pips thereabout and 1% of your trading account for the trade(that's if you wish to go for it). The RR on my end is about 1:6.

This isn't a financial advise. I just love sharing my thought so I can develop my trading skill. Note, crosscheck with your strategy and not be swayed by my newbie-like strategy. What do I know. Kindly comments on areas I could better improve.

Thanks

Everyone

17 Nis 2023

Not

the tight stop loss was taken out only for it to continue in the direction of the trade. I would suggest a re-entry which i did though with 1 ATR below the support as my stop loss area. 1% as usual