This bearish pennant on the 4-hour chart of EUR/CAD offers an downside breakout trading opportunity. The pennant's body and its pole are marked with the yellow lines. My potential entry point is marked by the cyan line. My potential take-profit level is at the green line. I will set the stop-loss order to the high of the breakout bar (not shown on the chart).
Order cancelled:
Cancelled the entry stop-order as the price has invalidated the pattern.
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