Low Risk-High Reward Bullish EURCAD trade

FX:EURCAD   Euro / Canadian Dollar
Hi guys, hope all good.

As you can see a medium-long term channel has been formed, we are on the bottom edge of it and the price is experiencing a very nice consolidation, which is in this case our trigger.

Set up:
-Stop loss right below the consolidation, around 40 pips
-Take profit in proximity of the next resistance level , around 120 pips
-3:1 risk reward. Low risk, high reward.
-Target could be reached in approximately 2-3 days according to ATR.

Simple but effective strategy.


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