AUDCAD long entry with reasonable stop loss level
I strongly believe, that the AUD is on the verge of over performing the Canadian dollar again, and the short term counter move is about to end soon.
At 25th of October 2013 the round number 1 worked as an excellent resistance zone for the currency pair however since the 10th of March 2014 as the important level was breached, 1 works as a good natural support zone.
I entered AUDCAD longs with a stop loss at 0.9980 with the usual trading size risking 1% of my capital. Holding the position for longer period is also acceptable as the trade has positive carry ....
At 25th of October 2013 the round number 1 worked as an excellent resistance zone for the currency pair however since the 10th of March 2014 as the important level was breached, 1 works as a good natural support zone.
I entered AUDCAD longs with a stop loss at 0.9980 with the usual trading size risking 1% of my capital. Holding the position for longer period is also acceptable as the trade has positive carry ....