EUR / CAD Short Position?
Disclaimer: Any of the content presented on my page showing my analysis of the market is just that, an analysis which means this is my personal opinion of where the price is going to go. Do not by any means take this simple analysis for a reason to enter a trade, I am not presenting these analyses as a form of signals, simply a way to get feedback and opinions from others on how my trades look. Take this trade at your own risk, but know forex is a risky market that you can make a lot of money but can lose that money or even more just as fast, enter these markets with your own risk and good luck with your trading :).
Daily Analysis:
As you can see in the chart provided down below price has been stuck in this range for quite some time now, I am waiting for a break to the down side and some more momentum for more confirmation. The previous daily candle shows me that there is more momentum to the downside as of right now, so If I can have price break down below this area and wait for more confirmation on the lower time frames, this could be a good trade for me. One thing to keep in mind, yes it is showing weakness to the upside right now but that does not really show any more momentum to the downside and there really is not enough confirmation to place a reliable trade here. With good risk management this can be a small loser or a really big winner.
Hourly Analysis:
Of Course, price has not reached were I would want it to for me to get into a trade so I am just going to go to sleep and not worry about it until the morning. This is what I want price to look like before getting into a trade and my entry would be at the break of the lows that were made while breaking the zone. This will just confirm that price is trying to make a lower low and at this point everything would be lined up for me and I would get in on that break.
All while keeping my risk in check with only a one percent risk of my total capital on this trade. I am also pretty tired right now so I do not think it would be smart for me to try to take a trade right now, so goodnight everyone and I hope your trading week goes well.
Thanks again,
KeySlot
Daily Analysis:
As you can see in the chart provided down below price has been stuck in this range for quite some time now, I am waiting for a break to the down side and some more momentum for more confirmation. The previous daily candle shows me that there is more momentum to the downside as of right now, so If I can have price break down below this area and wait for more confirmation on the lower time frames, this could be a good trade for me. One thing to keep in mind, yes it is showing weakness to the upside right now but that does not really show any more momentum to the downside and there really is not enough confirmation to place a reliable trade here. With good risk management this can be a small loser or a really big winner.
Hourly Analysis:
Of Course, price has not reached were I would want it to for me to get into a trade so I am just going to go to sleep and not worry about it until the morning. This is what I want price to look like before getting into a trade and my entry would be at the break of the lows that were made while breaking the zone. This will just confirm that price is trying to make a lower low and at this point everything would be lined up for me and I would get in on that break.
All while keeping my risk in check with only a one percent risk of my total capital on this trade. I am also pretty tired right now so I do not think it would be smart for me to try to take a trade right now, so goodnight everyone and I hope your trading week goes well.
Thanks again,
KeySlot
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.