IvanLabrie
Long

EURCAD: Possible long setup

FX:EURCAD   Euro Fx/Canadian Dollar
90 4 7
EURCAD             has breached through a strong congestion zone and is now about to bounce from a strong level above.
Bias is still bullish , so I'd be looking to buy a retracement as displayed in the chart.
Stop should be 1 ATR, and target would be the next pitchfork line above.
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Buy level almost hit, not in...I'll wait for a better entry.
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snapshot


Support at cloud top, lagging line crossed above the cloud, forecast remains bullish, waiting for a 4h setup to get in.
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Missed the entry for 3 pips...No fun.
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Rocket ride! Too bad I missed the entry, but goes to show we have to watch this consolidation zones closely.
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