This set up is based on a cap, keep an eye on how strong the reaction is.
I have highlighted some key arias and where a couple different trades can be made. I have also shown where and why previous reactions happened.
These are Flag Limits i have marked that if hit should create a bounce or even a larger move down.
Possibly a couple arias to keep an eye out on for a reversal pattern forming
This is a Flag Limit set up on EUR/CAD, I am looking to go short on its first time back to the zone that is also close to a possible S/R flip.
I entered this trade yesterday 10.4.17. It is based on the Flag Limit explained in red Text. The Blue Text is for a previous Flag limit setup.
This trade is based on a Cap that can be seen best on the 1H. My prediction/Setup would be an entry at 1.66770 with my stop loss at 1.67477. My first Target will be at 1.65724 and my second target at 1.63601. Once My first target is hit i will move to Break even and and then possibly start locking in pips depending on how the market is reacting.