EURCAD breakout consolidating

FX:EURCAD   Euro / Canadian Dollar
Eurcad             has made 3 equal pushes in an upwards channel followed by a breakout, and then a consolidation phase. If price reaches high point of consolidation I'm betting on a downwards breakout of equal degree to one of the breakout movement
SoxKeepYouWarm ForceFollower
but i got stopped out :(
Nightwish SoxKeepYouWarm
your SL was not in good place. you should place it by the book, above previous swing high. you would still be in the trade.
+1 Reply
Yea I've probably got to fix that, I'm a bit new and I've been having a lot of problems with my stop loss. Where would you put it though, the last high is way too far off.
ForceFollower SoxKeepYouWarm
Yeah, I know how it feels. ;-)
How about applying wider stops in the future? Mine was above the major high to the left.
Nightwish ForceFollower
he probably put it as in the picture. sometimes ppl have to know that every one of that post ideas have exclusive right to change parameters without notice. it is our own call. many should go through some learning process.
with such bearish engulfing yesterday - I agree. price failed to create higher high and first lower low looks in place. reversal.
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