Technician
Short

EURCAD: Short with an attractive Risk-Reward

FX:EURCAD   Euro / Canadian Dollar
393 views
2
393 3
This setup might be a bit riskier, as it goes against the prevailing trend, however the reward of the trade is pretty attractive compared to risk could be more then 3 to 1.

Technically, the price is retesting a broken support-turned resistance area and there is a potential of a pin bar here.

Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is moved to breakeven
4. Second unit at second target
5. If 90 percent of first target is reached without triggering entry, trade is cancelled

Follow me @ https://twitter.com/thefxchannel
thefxchannel.com

if you guys appreciate my work please Follow me @ https://twitter.com/FxInstinct
Reply
very solid trade
Reply
I went short when it broke fractal support on H1. Came off structure resistance with confluence at 618 retracement and RSI was < 50. Target 1 identical at 1.49260 Target 2 at 1.48 even as the 1.272 extension of fib retracement
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Help Center Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out