Low Risk-High Reward Bullish EURCAD trade
Hi guys, hope all good.
As you can see a medium-long term channel has been formed, we are on the bottom edge of it and the price is experiencing a very nice consolidation, which is in this case our trigger.
Set up:
-Stop loss right below the consolidation, around 40 pips
-Take profit in proximity of the next resistance level, around 120 pips
-3:1 risk reward. Low risk, high reward.
-Target could be reached in approximately 2-3 days according to ATR.
Simple but effective strategy.
Cheers,
Sebastiano.
As you can see a medium-long term channel has been formed, we are on the bottom edge of it and the price is experiencing a very nice consolidation, which is in this case our trigger.
Set up:
-Stop loss right below the consolidation, around 40 pips
-Take profit in proximity of the next resistance level, around 120 pips
-3:1 risk reward. Low risk, high reward.
-Target could be reached in approximately 2-3 days according to ATR.
Simple but effective strategy.
Cheers,
Sebastiano.
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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.