EURCAD - Bat Pattern Completed on H1
OPEC decided to cut production, EURCAD has dropped to 1.4644.
At the same time, a bullish bat pattern has also completed with price retracing slightly above the PRZ.
RSI is moving away from the oversold level, I am ready to go long at the next hour candle.
Risk to reward ratios looks fine at 1 to 1.3 for TP1, 1 to 2.3 for TP2.
I noticed it a little late, you guys might want to wait for the ideal price to long (bottom of PRZ) to enter, it's up to you.
At the same time, a bullish bat pattern has also completed with price retracing slightly above the PRZ.
RSI is moving away from the oversold level, I am ready to go long at the next hour candle.
Risk to reward ratios looks fine at 1 to 1.3 for TP1, 1 to 2.3 for TP2.
I noticed it a little late, you guys might want to wait for the ideal price to long (bottom of PRZ) to enter, it's up to you.
Trade active
Entered at 1.46746, let's see how it goes.Trade active
Trade is in the money at about 40 pips, I'm shifting my SL to breakeven.Note
TP1 hit with 78 pips profit =)Trade closed: target reached
Decided to lock all profits instead of waiting for TP2
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.