EURCAD 26.09.17 Long Taken

I’ve been waiting for this setup for a while which I have just been triggered into. Looking at weekly time frame we can see the price has formed HL at monthly support level 1.45 which also aligns with our FIB level 61.8. Scaling down to our daily time frame we can see the price has reversed from this level indicating we are going to see a reversal to the upside. We have broken above MA and seen MA cross on the daily TF. I was looking for an entry at our daily support level 1.45871 as this is our preferred FIB reversal zone.

Entry: 1.45871

TP 1: 1.48564

TP 2: 1.49684

SL: 1.44905

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