EURCAD has now a candle closed (4H TF) at the bottom of the bullish trend. As we have anticipated previously, a long entry would be appropriate now with a good R:W.
TP1: 1.5038 (180+ PIP)
TP2: 1.5167 (280+ PIP)
SL1: 1.4760
SL2: 1.4822
Long-term outlook: In weekly timeframe I'm seeing a XABCD setup having the price currently at C location. Therefore, EURCAD is expected to rise up to 1.64 in long-term.
NOTE 1: Use low leverage.
NOTE 2: Be careful with your SL. SL hunters are watching you 😉
TP1: 1.5038 (180+ PIP)
TP2: 1.5167 (280+ PIP)
SL1: 1.4760
SL2: 1.4822
Long-term outlook: In weekly timeframe I'm seeing a XABCD setup having the price currently at C location. Therefore, EURCAD is expected to rise up to 1.64 in long-term.
NOTE 1: Use low leverage.
NOTE 2: Be careful with your SL. SL hunters are watching you 😉
Note
Price is going to retest the black trend line. If rejected, you can consider a re-entry or increasing volume.Note
Our SL1 has NOT been touched yet with a difference of 13 points 😀Trade closed: stop reached
Long-term trade is still valid but our SL for short-term trade had been reached.
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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.