AUDCAD Watchlist
Looking for a bottoming pattern and confirmation to take this pair long. Conservative entry ( a higher W/L ratio but a lower R/R ratio) set-up is a close above the 50 and a retrace. Our bottom/top reversal set-up has lower W/L ratio but
a higher R/R. I usually place a half of a position on these trades. And what i call a full position (which is three positions. Faded @ dynamic resistance levels. 50 and 100 SMA...and trail the third on the conservative entries. Thats how our money management works. However...lets see if we trigger long. any bottom pattern..candle stick formation a close above the 15 EMA in alignment with our timing indicator on the lower TF and next higher TF. (3:1 ratio) The blocked areas on the chart are high conflunce areas of interest.
a higher R/R. I usually place a half of a position on these trades. And what i call a full position (which is three positions. Faded @ dynamic resistance levels. 50 and 100 SMA...and trail the third on the conservative entries. Thats how our money management works. However...lets see if we trigger long. any bottom pattern..candle stick formation a close above the 15 EMA in alignment with our timing indicator on the lower TF and next higher TF. (3:1 ratio) The blocked areas on the chart are high conflunce areas of interest.
Note
A bounce off the 50 or close to it in alignment with the timing indie and next higher TF would be a trend continuation short tradeOrder cancelled
trade invalidated
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