Descending triangle breakout on EURCAD

٢٠ نوفمبر ٢٠١٨

Today I'm placing a buy stop order on EURCAD. A resistance breakout completed this descending triangle that started in March and had a fairly regular shape until now. The long formation time and the pattern regularity give me enough confidence to proceed with my standard risk %. On top of that, the height of the triangle gives a big opportunity regarding the win/loss ratio (about 1:14). BUY STOP @ 1.5136, STOP LOSS @ 1.5042, TAKE PROFIT @ 1.6451