W4DL
Long

EURCAD Ascending Triangle

FX:EURCAD   Euro / Canadian Dollar
On the EURCAD chart we can see an ascending triangle .
As shown I'm going in with a very early entry. At the moment we have a slightly oversold RSI (29) and a support that looks like it's doing its job for the fourth time.
I will keep a stoploss slightly under the support but with still enough room for false breakouts.
Hope this will workout like my last ascending triangle on NZDJPY on 12 february, this is the second time spotting this pattern so I do see this as extra educational.

Thanks for reading and as always you're likes and feedback are welcome!

Wesley
Mar 28
Comment: We are in the red at the moment.
I do see a falling wedge as seen on the left. This will hopefully going to bring us back in the triangle and at the same time shows this support breakout of the ascending triangle is fake.
The stoplos as set in the first case is wide enough to handle this wedge.

I will keep updating this later on.
Apr 02
Trade closed: stop reached:
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out