EURCAD - Revised Trade Plan

EURCAD continues to trade within a wedge formation.

I'm waiting for either wedge support or resistance to break. I have my alerts set for when this will happen. Upon receiving one of the alerts, I'll then look for an entry point.

I'm not one to jump in on trade the moment we get a breakout. I've learnt my lessons the hard way many times in the past with that approach. So rather than entering on the breakout, I'll get my alert notification and then will look for a pullback roughly around a 50% retracement of the bullish and bearish impulse. I tried to illustrate this idea on the chart.

Now obviously I'm not expecting price-action to move exactly as illustrated but what I chalked up is a rough idea of what I'm expecting to happen.

Hope this all makes sense and is easy to understand.

That's it - That's all
Trade Safe