💡EURCAD Second Chance: Profit=885 SL=60 Reward/Risk > 14.7:1

Oct 12, 2020

Second Chance Trade Setup summary:

Profit targets=885 = {TP3= 90 + TP5= 325 + TP6= 470}
Stop Loss =60
Reward/Risk > 14.7:1

New Trading suggestion:
". There is still a possibility of temporary retracement to suggested resistance line (1.5520) again.
if so, traders can set orders based on Price Action and expect to reach short-term targets."

New Take Profits:
TP3= @ 1.5430
TP4= @ 1.5195
TP5= @ 1.5050

SL= Break above 1.5540

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Current Status of First Sell:
Total Profit: 640
Closed trade(s): 190 Profit
Open trade(s): 450 Profit

Trade Setup:
We opened 5 Sell trade(s) @ 1.5640 based on 'previous Forecast' at 10.07.2020:

Closed Profit:
TP1 @ 1.5570 touched at 10.08.2020 with 70 Profit.
TP2 @ 1.5520 touched at 10.08.2020 with 120 Profit.
70 + 120 = 190

Open Profit:
Open trade is 1.5490 (current price) - 1.5640 (open price) = 150
3 trade(s) still open, therefore total profit for open trade(s) is 150 x 3 = 450

Technical analysis:
. EURCAD is in a downtrend and the continuation of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 30.

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