EURCAD +100 pip trade
Updated
We broke a very strong structure level. Now, what should we do now? We will probably see a push to the upside because the market will probably retest that area again. We have a few confluence factors that show us that we will probably see a push to the upside.
1. Bullish divergence
I am using divergence in my trading and I think it works just fine. This is just another confluence factor for a push to the upside
2. COT reports
From a hedge fund perspective, we can see that they added 9890 new short positions while the market pushed to the downside and a decrease in long positions. From a EUR perspective, we saw a huge push to the downside but we could expect a push to the upside back to the structure level that turned resistance.
1. Bullish divergence
I am using divergence in my trading and I think it works just fine. This is just another confluence factor for a push to the upside
2. COT reports
From a hedge fund perspective, we can see that they added 9890 new short positions while the market pushed to the downside and a decrease in long positions. From a EUR perspective, we saw a huge push to the downside but we could expect a push to the upside back to the structure level that turned resistance.
Trade active
Entry -> Friday already in profit
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