Setup:
It was noted that EURCAD 0.09% could be dropping to 1.49670
Our setup is complemented by the following:
1. Multiple timeframe trend analysis
2. Divergence on H1.
3. Triple Top
Approach:
Our trade strategy is as follow: We will open two consecutive trades, they will both have the same stop loss but different take profits.
Trade 1:
Entry: 1.51138
SL: 1.51908
TP: 1.50594
Trade 2:
Entry: 1.51138
SL: 1.51908
TP: 1.49670
It should be noted that once TP1 is hit, we will move the stop loss of trade 2 to breakeven.
Risk & Reward:
TP1 - 1:0.75
TP2 - 1:1.9
Total Risk:
2% or 154 PIPS
Total Reward:
2.65 % or 202 PIPS
** It should be noted that this trade don't consist of high reward. However, the setup is still valid.
Good Luck :-)
It was noted that EURCAD 0.09% could be dropping to 1.49670
Our setup is complemented by the following:
1. Multiple timeframe trend analysis
2. Divergence on H1.
3. Triple Top
Approach:
Our trade strategy is as follow: We will open two consecutive trades, they will both have the same stop loss but different take profits.
Trade 1:
Entry: 1.51138
SL: 1.51908
TP: 1.50594
Trade 2:
Entry: 1.51138
SL: 1.51908
TP: 1.49670
It should be noted that once TP1 is hit, we will move the stop loss of trade 2 to breakeven.
Risk & Reward:
TP1 - 1:0.75
TP2 - 1:1.9
Total Risk:
2% or 154 PIPS
Total Reward:
2.65 % or 202 PIPS
** It should be noted that this trade don't consist of high reward. However, the setup is still valid.
Good Luck :-)
Trade closed: stop reached:
-2%