A Bullish Flag may just form up on the AUDCAD 1-hourly chart. The 15minutes chart may provide a possibility of a 61.8% retracement after the double bottom has formed. Although with the current candlestick formation, it is unlikely for a retracement to happen, if it does it will give me a better fill.
The current entry gives you a 1.4:1 Reward:Risk, if a retracement happens, it will easily give you a 2:1.
Well, for me I engage half of my position, so when the market run without waiting for me, I still can earn some and when it retraces I can wait for candle confirmation to engage the second half.