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)
Trade closed: target reached