Setup:
It was noted that EURCAD could be dropping to 1.48549
Our setup is complemented by the following:
1. Multiple timeframe analysis
2. Head & Shoulders
Approach:
Our trade strategy is as follow: We will open two consecutive trades, they will both have the same stop loss but different take profits.
Trade 1:
Entry: 1.51432
SL: 1.52535
TP: 1.50194
Trade 2:
Entry: 1.51432
SL: 1.52535
TP: 1.48549
It should be noted that once TP1 is hit, we will move the stop loss of trade 2 to breakeven.
Risk & Reward:
Total Risk:
2% or 214 PIPS
Total Reward:
4 % or 420 PIPS
Good Luck :-)
It was noted that EURCAD could be dropping to 1.48549
Our setup is complemented by the following:
1. Multiple timeframe analysis
2. Head & Shoulders
Approach:
Our trade strategy is as follow: We will open two consecutive trades, they will both have the same stop loss but different take profits.
Trade 1:
Entry: 1.51432
SL: 1.52535
TP: 1.50194
Trade 2:
Entry: 1.51432
SL: 1.52535
TP: 1.48549
It should be noted that once TP1 is hit, we will move the stop loss of trade 2 to breakeven.
Risk & Reward:
Total Risk:
2% or 214 PIPS
Total Reward:
4 % or 420 PIPS
Good Luck :-)
Trade closed: stop reached