EURCAD - POTENTIAL LONG ENTRY
EURCAD OUTLOOK
Price is in an uptrend movement which leaves a potential buy zone. A bullish pennant formation has occurred and it's 1 of the confirmation
that we can look at to take buy positions once it touches the edge of the trendline.
There are multiple confirmations which are the Trendline, the RBS zone in the H4 timeframe, the SnD in the M30 timeframe.
We had our buy limits set up with upside potential in the R:R ratio of 1:3.
TP can be placed at the recent order block where price might be mitigated, and SL can be placed just slightly below the formation trendline.
Price is in an uptrend movement which leaves a potential buy zone. A bullish pennant formation has occurred and it's 1 of the confirmation
that we can look at to take buy positions once it touches the edge of the trendline.
There are multiple confirmations which are the Trendline, the RBS zone in the H4 timeframe, the SnD in the M30 timeframe.
We had our buy limits set up with upside potential in the R:R ratio of 1:3.
TP can be placed at the recent order block where price might be mitigated, and SL can be placed just slightly below the formation trendline.
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