EURCAD has hit a wall at a strong resistance level (purple rectangle) for the past 3 weeks.
There is a bearish divergence on both MACD and RSI, as outlined by the solid black lines.
Consolidation triangle forming, as shown by solid orange lines.
Buy volume is also decreasing, outlined by solid blue line.
Potentially a low risk, high reward setup taking place.
Make sure to follow!
What are your thoughts?
There is a bearish divergence on both MACD and RSI, as outlined by the solid black lines.
Consolidation triangle forming, as shown by solid orange lines.
Buy volume is also decreasing, outlined by solid blue line.
Potentially a low risk, high reward setup taking place.
Make sure to follow!
What are your thoughts?
Note
Looks like it played out exactly as planned. Profit target #1 reached at strong support level. Make sure to follow for more!
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.
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.