EURCAD - Symetric Triangle

Apr 1, 2020

EURCAD showing a Synetric Triangle

• Pattern made after a masive bull run. Now we are in downtrend.
  
• Triangle has 4 touches (2 in the upper trendline and 2 in the lower one)
  
• Breakout is made in the 5th touch.
  
• Pattern has falling volume, another caracteristic of pennats
  
• Re-test made after breakout and price stopped at 61.8 Fib. Fib made with the last pivot points (1.5717 & 1.54436)
  
• TP1 27 Fib
  
• TP2 distance is calculated with the triangle measures (highest high - lowest low)
  

Apr 2, 2020

Trade closed: target reached