riffster21
Short

EURCAD - Sell a Bounce

FX:EURCAD   Euro / Canadian Dollar
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The EURCAD has been trading inside this massive channel since the beginning of Dec. We have a run towards resistance right now. The recent push up has 'not' consolidated making a bounce near resistance more likely.

I will wait for the pair to get close to resistance (top of the channel), then sell with a stop 20 pips above the channel and a target near the bottom of the channel. The risk/reward on this trade is fantastic. The EURCAD provides these trades a few times each year.

Trade safe and keep an eye on news!
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