Synapse
Long

EURCAD - Descending Wedge 4 Hour Chart - Pending Buy

FX:EURCAD   Euro Fx/Canadian Dollar
Greetings Traders,

In correlation with our anticipated USDCAD             move...I've spotted a descending wedge on EURCAD             that is trade-able.

Due to the nature of the peaks however, to avoid any false breakouts I've set the following trade:

Pending Buy Stop 1.43550 - Or Manual Entry Along SUPPORT
Stop Limit 1.4250
Target Profit 1.4640


Straight forward trade, as I mentioned above the peaks for the top of the wedge are kind of sloppy but uniform...it was almost 2 acceptable lines and we're in between both of them currently. If the market should move much lower before hitting the Buy Stop for a new high, I will be looking to manually enter a buy at 1.4240 (or wherever the support is at that time. 100 pip stop loss and same take profit.

Please do your own analysis before entering a trade. Feel free to comment/"like" or follow.
Jason_jianlin
a year ago
Thanks for sharing this beautiful idea! And I'll key my eys on it as well~
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Synapse Jason_jianlin
a year ago
Your very welcome, this trade is still very much still in order. NFP caused us to spike to the lower support and it looks like the pattern will complete near to first thing this upcoming week.
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