EURCAD Weekly Double Bottom Scalp

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Going into Monday’s trade, there is a nice double bottom set up on the EURCAD weekly chart:

Weekly Double Bottom, 1.2964-67

Here's the trade:

1) Buy entry from 1.2970
2) Initial stop loss at 1.2944
3) Profit target at 26 pips, 1:1 risk vs. reward ratio