Inspect the chart's past of the price zone and you will see multiple occurrences of sharp, aggressive price action dating back as far as 2005. There is buildup of high resistance stopped countless attempts and rarely successfully. RSI is also reading that the pair was overbought.
Trade active:
Currently 65 PIPS in profit from current bearish movement. Will ride it until the stops unless I see signs of weakness!
Trade active:
Bullish movement is moving as predicted. Currently 185 PIPS in profit.
Comment:
Upon reaching the take profit, I see agree with user Siyandaidude about where price will go after the fall.
Trade closed manually:
Traded has been closed early, but still profited about 115ish PIPS. Another idea will be posted for current EURCAD situation.