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
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.