EURCAD: Possible long setup Long

Euro Fx/Canadian DollarFXCM

Description

⋅ Dec 14, 2014 6:13 PM

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.

EURCAD

Comments

IvanLabrie

⋅ Dec 16, 2014 1:07 PM

Rocket ride! Too bad I missed the entry, but goes to show we have to watch this consolidation zones closely.

IvanLabrie

⋅ Dec 15, 2014 5:03 PM

Missed the entry for 3 pips...No fun.

IvanLabrie

⋅ Dec 15, 2014 12:45 PM

Support at cloud top, lagging line crossed above the cloud, forecast remains bullish, waiting for a 4h setup to get in.

IvanLabrie

⋅ Dec 15, 2014 12:32 PM

Buy level almost hit, not in...I'll wait for a better entry.