Nice Short-Term Breakout on EURCAD

FX:EURCAD   Euro / Canadian Dollar
Was hard to tell which way EURCAD             would breakout of this wedge . We were leaning to the upside as our algorithm was pointing higher BUT ultimately we needed to see price confirmation. Once this pair broke above the upper wedge line by +10 Pips we were able to confirm our algorithm and take a long position. Keep in mind this is only the 1H chart and it should be viewed simply as a scalp trade and nothing more. The move produced up to 70+ Pips, admittedly we captured slightly less than half that move by the time we came in the office this morning.

Now this pair can be watched to hold the upper wedge line on this latest minor pullback. If it can hold, within reason, we could see another run higher.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out