sunnyk
Long

Coil break on EurCad

FX:EURCAD   Euro / Canadian Dollar
51 views
3
51 3
Daily chart price action suggests potential resumption of uptrend.
setup ~ wedge formation on daily or 8 hr chart
trigger ~ break of swing point high at boundary of upper edge of wedge

stop = 188 pips
target 1 = 94 pips
target 2 = 141 pips
target 3 = 188 pips

targets have been shortened because heading into weekend. Will be looking to close position eod Friday
trade closed
all lots cashed in for a net of + 0.24% gain. The original risk (stop levels) was sized to 1% of trading capital.
Generic goal is to capture atleast 2% on each trade - however, price action response determines the outcome ... on to the next trade ...
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stops on the remaining lot moved to break even.
will consider long position if spike top of friday high is taken out to the long side.
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1st target of 94 pips reached and filled ...
this being eod Friday trade management is conservative - 2nd lot exited at break even
only carrying the last 3rd lot - with stops raised to below 1.48 round number
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