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.
Comment:
TP1 hit with 78 pips profit =)
Trade closed: target reached:
Decided to lock all profits instead of waiting for TP2