EURCAD

Aug 3Price has recently taken out the high from April 2023, forming a new trading range and confirming the uptrend. However, after such strong bullish momentum, a pullback is anticipated. I will look for a counter-trend sell setup, expecting at least a 50% pullback to the first higher demand zone, with the ideal pullback being around 75%. From there, I will monitor the price action for potential buy opportunities and target the first High, just a simple price action...

Aug 5

Trade active

Structure flipped.

Aug 6

Trade active

First target 1:3 reached.

Not closing all of the volume as this is bigger picture:

Also today being Tuesday this is easy High of the week.

Aug 11

Trade closed: target reached

Very good trade, second target reached. RR 1:4.5
Now I will post a new trading idea for this pair specifically so you can see what I am planing to do next.