Coil break on EurCad

FX:EURCAD   Euro / Canadian Dollar
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 ...
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.
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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