EUR-CAD Long
Weekly Structure - Downtrend
Daily Structure - Downtrend
You may ask I want to go long when the price is moving lower since the past. Well, After the price hits 1.42750 all the body candles didn't close below this price.
If you go to H1 chart, you can see a initial reverse trend and the price starting to go up and forming Higher Highs and Higher Lows. At this stage, price is testing the last both resistance broken around 1.43400. I believe price could go up with a correction in the next days until reach and test a very strong level of support previous broked aroung 1.44500.
TP1 - 1.43700
TP2 - 1.44000
TP3 - 1.44500
SL - 1.43058
R/R - 4.00
Daily Structure - Downtrend
You may ask I want to go long when the price is moving lower since the past. Well, After the price hits 1.42750 all the body candles didn't close below this price.
If you go to H1 chart, you can see a initial reverse trend and the price starting to go up and forming Higher Highs and Higher Lows. At this stage, price is testing the last both resistance broken around 1.43400. I believe price could go up with a correction in the next days until reach and test a very strong level of support previous broked aroung 1.44500.
TP1 - 1.43700
TP2 - 1.44000
TP3 - 1.44500
SL - 1.43058
R/R - 4.00
Note
You can put SL at entry e let it run or do trailing stop.Note
Close 80% of the trade and let it run the remaining 20% until the Take Profit.Note
Trade Closed : Take Profit HittedNote
Profit 115 Pips
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