EURCAD, 4hr tf, buy bullish flag breakout
Hello my friends,
Another setup for December is EURCAD pair.
As you can see, it looks like a bullish flag pattern formed on this pair.
Price already took down the resistance and currently retesting it as a support.
We might see price rotate towards 1.5650-60 area.
This bullish flag measured objective are around 270 pips.
The next resistance would be at 1.5650 which where will be our take profit for this trade.
If you're a fan of Elliott Wave, we could also assume this movement as Wave ABC correction in my opinion.
Let's see how this turn out.
Buy EURCAD 1.5510
Stop loss 1.5460
Take profit 1.5660 (3R)
RR Ratio 1 : 3
Use only 1-2% risk
Good luck
Another setup for December is EURCAD pair.
As you can see, it looks like a bullish flag pattern formed on this pair.
Price already took down the resistance and currently retesting it as a support.
We might see price rotate towards 1.5650-60 area.
This bullish flag measured objective are around 270 pips.
The next resistance would be at 1.5650 which where will be our take profit for this trade.
If you're a fan of Elliott Wave, we could also assume this movement as Wave ABC correction in my opinion.
Let's see how this turn out.
Buy EURCAD 1.5510
Stop loss 1.5460
Take profit 1.5660 (3R)
RR Ratio 1 : 3
Use only 1-2% risk
Good luck
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