Eurcadsell
EURCAD approaching support, potential for a bounce!
EURCAD is expected to drop to 1st support at 1.47072 where it could potentially react off and up to 1st resistance at 1.46351.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
SELL EURCAD AT MARKED ENTRY We previously saw EURCAD break out of range bearish until most recent point of support by which it had completed the first potential cycle. Price still has bearish potential from which we may see price move bearish from around 1.48626 and complete the move at 1.42913.
Stoploss is about 220 pips so manage your risk accordingly.
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Possible EUR/CAD short position!!SMP TRADING
SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY
Chart time frame - H4
Timeframe - 4-12 Hours
Actions on -
A – Activating Event
Market will meet resistance in zone @ current levels - .... and fall to the 1.463. In order to enter, the pair MUST be in line with my Entry Procedure....
B – Beliefs
Market move towards the first Target 1 level @ 1.463
FX:EUR/CAD
Trade Management
Entered @ .....
Stop Loss @ .....
Target 1 @ 1.463
Target 2 @ ....
Risk/Reward @ 1.5.1
Happy trading :)
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This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Eur/Cad Update!The Support Level is hard to see on the daily and even weekly chart, but it does exist! This is a monthly support level!
so.....
1. Daily Chart Came Down To Monthly Support and moved up , and then CAME DOWN again and RETESTED the Montly Support Area!
2. Indicators on hour 4 indicate a buy now!
So the Idea is that we are have entered a buy on the daily chart at a monthly support area and we ENTERED our trade on hour 4 to confirm this buy!
I hope this helps!
EURCAD TO POTENTIALLY MAKE NEW LOWS I recently marked up this pair with a bearish prospective ( i have attached the mark up) since then, price moved bearish and hit our take profit level. Price has moved bullish since then into what we can potentially see as a retracement. We may then see price break lower and move toward our take profit level.
Entry - grey line
Stop loss - red line
Take profit - green line
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