Structure Play on EURCADHi guys,
i wanted to share with you this simple structure play. If you zoom out or if you give a look at the daily chart, you'll see that we are now testing a key structure zone on the daily. Therefore i use to lower a timeframe in order to catch an inversion with nice risk to reward ratio.
This level also lines up pretty well with the 618 retracement and the psychological number of 1,4100.
Plus, we've got RSI divergence and RSI overbought at this time.
The clues are enough for me to take this trade, i'm waiting a pullback in order to get a better risk to reward ratio.
Stop below the lows, targets as illustrated above.
If you want to share your view or simply ask questions, feel free to comment below.
Otherwise, see you in the next chart!
