What I'm Looking For on the EURCAD
There are quite a few ways this chart can go. Right now I am looking for a close below the nearest structure at 1.4551. If the price puts in a lower close I will put two short orders in and sell at two lower support levels. I will also be trailing my stop. Looking forward a little into the future, if the price hits the .786 retracement I will be looking to put in 2 long orders and close at the two resistance levels shown. If none of these trades happen and the price continues upward and makes a higher high, I will be looking for a .786 trend continuation trade.
Related publications
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.