EURCAD - copycat
Updated
In May, this pair provided 3 pips net in 478 pips range through the whole month and established support at 1.5050. We can also see that 1.5300 acts like a magnet for price, but it prefers to be resistance than support (see daily line chart below).
With a little bit of imagination and comparison to the end of April action, I will look for shorts here until end of month. So the plan is:
Look for possible shorts in red area, close smaller part of the trade at TP1, reload shorts on any pullback towards 1.5300, aim for TP2 and TP3.
If it won't come to red area but continue to go south, ope shorts on pullbacks to 1.5300 area with the same targets.
Monthly chart:
Daily line chart:
Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
With a little bit of imagination and comparison to the end of April action, I will look for shorts here until end of month. So the plan is:
Look for possible shorts in red area, close smaller part of the trade at TP1, reload shorts on any pullback towards 1.5300, aim for TP2 and TP3.
If it won't come to red area but continue to go south, ope shorts on pullbacks to 1.5300 area with the same targets.
Monthly chart:
Daily line chart:
Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
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