EUR-CAD
EURCAD - FOREX - 26. NOVE. 2019Welcome to our weekly trade setup ( EURCAD )!
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1 HOUR
Bearish market turned bullish.
4 HOUR
Bearish price action at its wave low, we need a push to the upside.
DAILY
Bullish market at a bearish pullback, great long entries.
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FOREX SETUP
BUY EURCAD
1ST ENTRY @ 1.46630
2ND ENTRY @ 1.46330 (Wait for trigger)
SL @ 1.45810
TP @ 1.47520
RR: 1.1 / 2.35
Use 0.5% risk per Entry!
(Remember to add a few pips to all levels - different Brokers!)
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Have a great week everyone!
ALAN
Eur Cad With interesting areaWe see a Eur cad hitting support + qm area after some nice bearish move ...
i expect a bounce to the upside (ltf entry for nicer RR or HTF entry for stressless trading)
plan B would be a break of the zone and retest from below to get in short ..
observe the candles when we hit or break area and let them tell you the story ....listen Carefully ;-)
EURCAD Channel Support Broken - Retest Short EntryEURCAD - I posted this chart a while back. Price has been testing long term channel support.
This is a huge channel forming all the way back in 2012.
We can see.....
1) Test of support rejected. Long lower wicks, close above.
2) Price breaks below support. Bulls are able to push price back above channel support, but can't hold it.
3) Price back below support, retesting resistance.
It's taken a while for this to play out, but if bears can hold price below channel support, it could attract a wave of sellers to step in.
I will post a long term chart of the channel in the comments.