EURCAD Long
The Euro had made a strong move from 1.42 to 1.60 early in the year. Price then retraced (.50 level) and consolidated around 1.50.
A second impulsive wave has seen price again move to 1.60 and in the last few bars retrace.
This could be the start of a double top or maybe the handle is forming for a C&H .... it's too early to tell.
The bias is presently set to the long side ( all short term MAV in alignment)..... A suggested long
1. Enter - around 1.56 (20 MAV)
2. Target - 1.67 ( beyond 2018 high and 1.27 extension)
3. Stop - 1.51 ( near lows of consolidation and more 3 atr)
4. RR = 2.5
A second impulsive wave has seen price again move to 1.60 and in the last few bars retrace.
This could be the start of a double top or maybe the handle is forming for a C&H .... it's too early to tell.
The bias is presently set to the long side ( all short term MAV in alignment)..... A suggested long
1. Enter - around 1.56 (20 MAV)
2. Target - 1.67 ( beyond 2018 high and 1.27 extension)
3. Stop - 1.51 ( near lows of consolidation and more 3 atr)
4. RR = 2.5
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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.