VolveFX
Short

EURCAD - Symetric Triangle

FX:EURCAD   Euro / Canadian Dollar
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FX: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

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