The chart formation on the EUR/CAD weekly timeframe resembles a bearish flag pattern. It offers a trading setup with a downside breakout entry potential. The flag and its pole are shown with the yellow lines. My potential take-profit level is marked with the green line (1.25467). My potential stop-loss level is marked with the red line (1.32897). I will wait for the price to close significantly below the flag's lower border before opening a short trade.
Ordre annulé:
Trade setup cancelled due to the pattern's invalidation.
You can find useful tools to detect, build, and trade chart patterns - all completely free on www.earnforex.com.