Fxprotrader
Long

EURCAD A Big Move Is About To End, A Bigger One Is Coming

FX:EURCAD   Euro Fx/Canadian Dollar
937 8 52
After a great trade, catching a big down move (click the link on the chart) price is now testing the lower bond of a larger degree correction. We should now be patient and wait for price to break above the wedge pattern it' been moving in for a while. If price breaks above, we should watch for a buy setup and go long with EURCAD             .
Comment: Price has broken above the wedge pattern and it's now retracing. We should now watch for a buy setup
Comment: Price is heading as expected to the upper bond of the corrective structure. If we have a breakout above this trendline we should keep an eye for a buy setup before buying.
Comment: Price has more room to the upside but we might have a small retracement before going up. That's another good buy opportunity
snapshot
What kind of signals or indicator do you use to go for it in your setups? Candlestick, MacD, Ichimoku,..?
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thank you , well spotted
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Fxprotrader Eliofrancesco
Thank you..!
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Hi, what stop loss and Take profit would you put if I were to enter at current price (1.4400)?
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For stoploss It depends on your strategy.. As for profit target i always set it looking at structure.
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yeocs93 Fxprotrader
Followed your trade previously, it was awesome but didnt know how to set SL and TP to maximise my profit. In this case, are we looking at 1.4670?
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nice trade, caught that one just right!
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Fxprotrader marcus123
Thank you marcus
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