This was my second attempt shorting AUD/CAD, if the first trade ended up at BE which was still a good play taking in consideration that I was able to protect myself and minimize any losses. You can find more about my first short here: AUD/CAD Short Position Explained

On my second trade that I'm going to explain it here even though my timing wasn't perfect I still managed to get +54 pips profits out of this trade. The premise on this trade was again based on the fact that the higher time frame bias was still suggesting more downside and I decided to enter on a minor resistance level on the 1h chart (see Figure 1). Even though we had another run up above that key resistance making a false breakout I was still confident to keep this position because of the higher time frame premise and in the end I was proven right.

The only reason why I decided to trail my SL level was because of the FOMC decision as I didn't wanted to stay in front of a big train I decided it's best to stay conservative and get the profits out of the table.
Figure 1. AUD/CAD 1h Chart


Best Regards,
Daytrader21
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