EUR, in it’s basket, appeared to be completing a bear rally, and was sitting on support before pushing back down. CAD had made a nice up move, and was stalled, and it looked like it could be building energy to make another push up.
Looking at this pair, it was pushing down and in a bit of a base, though it wasn’t the most clear/prettiest base I’d ever seen. I ran the numbers, though, and I had an above 1.5 R:R, so, not wanting to be fearful, I set entry orders.
Entry – 1.53527
Exit – 1.53869
Almost immediately after triggering me into the trade, price rallied. It continued to rally for the next several hours, eventually stopping me out of the trade.
