formation on EURCAD .
on focus is the horizontal support.
if bears break below it, most likely, selling volumes will increase and we will see continuation to lower levels of structure.
T1 - 1.455
T2 - 1.451
Want to know where stop will be? Leave a comment :)
*remember, that the market can also break to the upside!
in such a scenario, setup will be invalid.
first thing is that we don't know how long the market will be trading within the triangle.
our trigger is the bearish breakout of support. the entry point of the trade can be identified only after breakout!)
same thing concerns stop:
according to my rules I set my stop above the last lower high.1.463 would be my stop.
but who knows, is it the last one or not)!