CONTINUATION PATTERN IN EURCAD
Here we have an INTRADAY trade with an ABCDE correction pattern for CONTINUATION.
ENTRY: (1.5410 - 20 pips)
STOP LOSS: (1.5430 - 20 pips)
BE: (1.5390 - 20 pips) 1:1
TP1: (1.5370 - 40 pips) 1:2
TP2: (1.5350 - 60 pips) 1:3
CONFIRMATIONS:
1) The market is in general downtrend (trade with the trend ).
2) ABCDE correction pattern for continuation.
3) 1H resistance at the entry point (reversed the previous 2 times at this level).
4) 50% Fibonacci retracement of the drop.
5) 150 EMA works as resistance.
*If the market breaks the TP2, you can extend your take profit target.
**We don't have a clear price action sign so enter with 1/2 risk and if the market drop aggressive in smaller timeframes add on the other 1/2 risk.
ENTRY: (1.5410 - 20 pips)
STOP LOSS: (1.5430 - 20 pips)
BE: (1.5390 - 20 pips) 1:1
TP1: (1.5370 - 40 pips) 1:2
TP2: (1.5350 - 60 pips) 1:3
CONFIRMATIONS:
1) The market is in general downtrend (trade with the trend ).
2) ABCDE correction pattern for continuation.
3) 1H resistance at the entry point (reversed the previous 2 times at this level).
4) 50% Fibonacci retracement of the drop.
5) 150 EMA works as resistance.
*If the market breaks the TP2, you can extend your take profit target.
**We don't have a clear price action sign so enter with 1/2 risk and if the market drop aggressive in smaller timeframes add on the other 1/2 risk.
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