As expected, the AUD/CAD pair reached its yearly high and is now trading at a quote of 0.97.
According to grid trading, this level is a good area to place limit orders, at every 50-100 pips.
As we all know, the target of this strategy is to bring out a good pullback, especially after the breakouts of large monthly highs. This method fits the AUD / CAD pair since the quote has moved 4,500 pips since September, and by 16,000 pips since the beginning of the year.
Of course, you still need to monitor and control the risks to avoid losing profit. Trading in this financial market is very precarious, but also very profitable as long as you use the right approach.
Good luck!
