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

FX:EURCAD   Euro / Canadian Dollar
945 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
nice trade, caught that one just right!
Fxprotrader marcus123
Thank you marcus
Hi, what stop loss and Take profit would you put if I were to enter at current price (1.4400)?
For stoploss It depends on your strategy.. As for profit target i always set it looking at structure.
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?
thank you , well spotted
Fxprotrader Eliofrancesco
Thank you..!
What kind of signals or indicator do you use to go for it in your setups? Candlestick, MacD, Ichimoku,..?
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