Good evening, dear traders! I present to you the trading idea for the AUD / CAD pair.
If you carefully look at my analytics, you probably have noticed that I regularly trade "dense" cross-rates more than once and, frankly, the results on them delight me with no less regularity.
The fact is that certain crosses have a very narrow range of moves, which allows them to successfully trade them in a "grid way" and regularly withdraw profits. One such instrument is the AUD/CAD. Let me remind you that AUD/CAD has been in a downward trend for a year now, periodically giving very impressive pullbacks. The average recoilless stroke of this instrument is 7000 5-digit. Thus, if you look closely at the spring trend - it is precisely these 7000 p. And this means that it can be "picked up from the loyalties" for a pullback. We have bought it several times with you, and it regularly gave us profit. Thus, now, AUD/CAD is rolling back down again - which means that it is time to buy, although this should not be done exactly as is customary in the classical trade in "majors". This is done with a grid of orders. In fact, you split the work lot into 3-5 parts and buy the first part at the current price. The remaining parts, on the other hand, are set by limit buy orders in increments of 500p by 5-digit. Thus, you form a network of buy orders with a common take at one quote. In addition, a common stop on this network should also be considered. I will give an example of how to do this below. It will be the trading idea for a set of longs on AUD/CAD.
Tomorrow, I will give one more cross with good potential!
I wish you all success in trading and control risks.
