The EURCAD has been trading inside this massive channel since the beginning of Dec. We have a run towards resistance right now. The recent push up has 'not' consolidated making a bounce near resistance more likely.
I will wait for the pair to get close to resistance (top of the channel), then sell with a stop 20 pips above the channel and a target near the bottom of the channel. The risk/reward on this trade is fantastic. The EURCAD provides these trades a few times each year.
Trade safe and keep an eye on news!
I will wait for the pair to get close to resistance (top of the channel), then sell with a stop 20 pips above the channel and a target near the bottom of the channel. The risk/reward on this trade is fantastic. The EURCAD provides these trades a few times each year.
Trade safe and keep an eye on news!