EURCAD Short, Shorttime B Setup
Good evening guys, EURCAD offers us a B-Type Short Setup (5 Confluence Factors). Price broke below support and has now retested the 50 EMA with a hightestish type candle which also rejected the 0.5 fibonacci retracement level.
Keep in mind though that the run is pretty overextended, which is the reason why I would take profits above the next horizontal support level.
I would've preffered if today closed as a very distinguished hightest, as I did not get that I will put a pivot entry order. Stop Entry and Target will be as shown. Happy Trading and a good week.
Keep in mind though that the run is pretty overextended, which is the reason why I would take profits above the next horizontal support level.
I would've preffered if today closed as a very distinguished hightest, as I did not get that I will put a pivot entry order. Stop Entry and Target will be as shown. Happy Trading and a good week.
Trade active
Luckily we got entered with this trade, having a outstanding pivot order. The target was nearly hit,however I will not move the stop until bullish price action forms, as the initial trade idea is still valid. Will keep you updated!Note
getting closer to the target!Trade closed: target reached
Trade closed for a profit of 1.63%
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.