EUR/CAD Long Setup – Doji Reversal off Daily Support + Clean Intraday Double Bottom
Looking to go long on EUR/CAD after a strong multi-timeframe confluence of structure, liquidity sweep, and bullish intent.
4H Chart:
A beautiful doji formed after a stop hunt, clearing out long-side liquidity built up since the consolidation zone starting around April 14th.
The following three 4H candles have respected that doji's low and are all bouncing cleanly off the key daily support zone at 1.57544 — a strong sign of buyer defense.
Daily Chart:
Price tapped into a well-established demand zone, holding firm and reacting with precision.
1H Chart:
We've got a double bottom forming, but what makes it cleaner is that the second leg didn’t even touch the previous low — early buyers stepped in faster. That’s a sign of strength and absorption.
Trade Plan:
Entry: Around current level, just above 1.57544
Target 1: 1.58572 (.82R, and also a weekly level)
Target 2: Swing high beyond 1.5900
Stop: Just below the doji wick on the 4H
This setup combines a clear liquidity sweep, price reaction from daily structure, and intraday bullish intent. If we reclaim 1.5800 with momentum, the high should be in reach.
Looking to go long on EUR/CAD after a strong multi-timeframe confluence of structure, liquidity sweep, and bullish intent.
4H Chart:
A beautiful doji formed after a stop hunt, clearing out long-side liquidity built up since the consolidation zone starting around April 14th.
The following three 4H candles have respected that doji's low and are all bouncing cleanly off the key daily support zone at 1.57544 — a strong sign of buyer defense.
Daily Chart:
Price tapped into a well-established demand zone, holding firm and reacting with precision.
1H Chart:
We've got a double bottom forming, but what makes it cleaner is that the second leg didn’t even touch the previous low — early buyers stepped in faster. That’s a sign of strength and absorption.
Trade Plan:
Entry: Around current level, just above 1.57544
Target 1: 1.58572 (.82R, and also a weekly level)
Target 2: Swing high beyond 1.5900
Stop: Just below the doji wick on the 4H
This setup combines a clear liquidity sweep, price reaction from daily structure, and intraday bullish intent. If we reclaim 1.5800 with momentum, the high should be in reach.
Trade closed manually
closed in loss
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.