EURCAD - Divergence, target 1.48 handle

Setup:
It was noted that EURCAD could be dropping to 1.48 handle
Our setup is complemented by the following:
1. Multiple timeframe analysis
2. Divergence

Approach:
Our trade strategy is as follow: We will open two consecutive trades, they will both have the same stop loss but different take profits.
Trade 1:
Entry: 1.52636
SL: 1.54695
TP: 1.50813

Trade 2:
Entry: 1.52636
SL: 1.54695
TP: 1.48086

It should be noted that once TP1 is hit, we will move the stop loss of trade 2 to breakeven.

Risk & Reward:
Total Risk:
2% or 402 PIPS

Total Reward:
3.2 % or 640 PIPS

Good Luck :-)

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