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.