EURCAD has come down recently, and now formed a consolidation pattern that looks like a curved bottom. It just touched the bottom of this curve again, so that seems like a decent position to open a long position. Any move that closes significantly below the curve invalidates the setup.
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So far, so good. It bounced from the bottom of the cup. The first target would be resistance line formed by the previous highs. From there it might rebounce down or break through.
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Well, this worked out nicely. Should anybody have followed my idea, taking some profit here is recommended!