AUUCAD Stopped out with a profit

The remaining part of my AUD/CAD short trade was stopped out overnight with with a small profit.  This gives me a total RRR of 2.1 t0 1, which is very acceptable.  My trailing stop was intentionally tight as 10 of the last 12 days were "down days" and a bounce can therefore be expected.

AUD/CAD Update

This trade is going well.....my first target has been met, I've taken some profits and my stop on the remaining portion has been moved to a profit position so that I am now in a risk free trade.
I will continue to monitor the price action and act accordingly but I am now running a 40 pip trailing stop and hope that will enable me to ride the trade all the way down towards the bottom of the weekly wedge.

AUD/CAD Short Trade

I am short the AUD/CAD pair from yesterday.   The pattern is a rising wedge on the daily chart (magenta lines) which has formed within a larger rising wedge on the weekly chart (blue lines), going back to November 2009.
Entry was at the break of the daily wedge and my first target will be RRR 1:1.  If that is reached I shall hold the remainder of the position hoping for it to reach the bottom of the weekly wedge.  The price action today may be showing that the retest of the lower wedge line has taken place and if so, I would expect further price deterioration from here.