EURCAD - Divergence, target 1.48 handle
Setup:
It was noted that EURCAD could be dropping to 1.48 handle
Our setup is complemented by the following:
1. Multiple timeframe analysis
2. Divergence
Approach:
Our trade strategy is as follow: We will open two consecutive trades, they will both have the same stop loss but different take profits.
Trade 1:
Entry: 1.52636
SL: 1.54695
TP: 1.50813
Trade 2:
Entry: 1.52636
SL: 1.54695
TP: 1.48086
It should be noted that once TP1 is hit, we will move the stop loss of trade 2 to breakeven.
Risk & Reward:
Total Risk:
2% or 402 PIPS
Total Reward:
3.2 % or 640 PIPS
Good Luck :-)
It was noted that EURCAD could be dropping to 1.48 handle
Our setup is complemented by the following:
1. Multiple timeframe analysis
2. Divergence
Approach:
Our trade strategy is as follow: We will open two consecutive trades, they will both have the same stop loss but different take profits.
Trade 1:
Entry: 1.52636
SL: 1.54695
TP: 1.50813
Trade 2:
Entry: 1.52636
SL: 1.54695
TP: 1.48086
It should be noted that once TP1 is hit, we will move the stop loss of trade 2 to breakeven.
Risk & Reward:
Total Risk:
2% or 402 PIPS
Total Reward:
3.2 % or 640 PIPS
Good Luck :-)
Trade closed: stop reached