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Eurcadsell

Lots of concluence on EURCAD!Hey guys, i wanted to share with you this setup for i've found lots of different clues pointing in the selling direction. As you can see in the illustration above we have: Cypher pattern (already completed), daily structure, an engulfing shooting star candle, a round psychological number, RSI divergence and RSI overbought condition all together in the same place. Given the situation, i think i'll undoubtedly set my orders on and wait for price to trigger them. I'll keep you updated. As usual, feel free to comment if you want to share your standpoint or ask questions. Otherwise, see you in the next chart!
Short
by Roker1
3
What a cluster! EURCAD analysisHey guys, i wanted to share with you this setup for i've found lots of different clues pointing in the selling direction. As you can see in the illustration above we have: Cypher pattern (already completed), daily structure, an engulfing shooting star candle, a round psychological number, RSI divergence and RSI overbought condition all together in the same place. Given the situation, i think i'll undoubtedly set my orders on and wait for price to trigger them. I'll keep you updated. As usual, feel free to comment if you want to share your standpoint or ask questions. Otherwise, see you in the next chart!
Short
by Roker1
2
EURCAD - Short Setup with Barometer ConfirmationHi guys, as I mentioned in my market barometer updates, the EURCAD is my pick today. The EUR is weak and the CAD is strong. Combine that with some other factors: recent drop below uptrend support, consistence diminishing pattern on X Meter & my trend signal confirmation; I am short @ 1.41739. My stop and target are posted on the chart. We got some news to navigate this week. I will not hold this trade past Thursday night. The trade should be finished by then. This is not investment advice, just my opinion(s). Please trade accordingly. Trade safe and keep an eye on news.
Short
by riffster21
2
Pay attention to this zone! EURCAD analysisHi guys, earlier today i've posted another idea about this pair, but the scenario is now changed. As you can see price broke through the previous support and it's now sitting right into previous resistance (that should also provide some selling pressure). In this resistance zone we also have some confluence: a bat pattern (just completed), a psychological round number (1,4100) and a 618 fibonacci retracement. Furthermore, the RSI is deeply overbought right now. All those reasons together make me think this could be a nice reversal zone for this pair. I'll let you know if i'm getting involved. If you have any questions, feel free to ask below. Otherwise, see you in the next chart!
Short
by Roker1
Pay attention to this zone! EURCAD analysisHi guys, earlier today i've posted another idea about this pair, but the scenario is now changed. As you can see price broke through the previous support and it's now sitting right into previous resistance (that should also provide some selling pressure). In this resistance zone we also have some confluence: a bat pattern (just completed), a psychological round number (1,4100) and a 618 fibonacci retracement. Furthermore, the RSI is deeply overbought right now. All those reasons together make me think this could be a nice reversal zone for this pair. I'll let you know if i'm getting involved. If you have any questions, feel free to ask below. Otherwise, see you in the next chart!
Short
by Roker1
2
Previous Support Becomes Resistance Hey guys, some simple price action analysis here. On the daily timeframe price is going to retest previous support that once broken should become resistance. On the lower timeframe (4h) we can see some different clues pointing in the same direction: first, a butterfly pattern that's completing very close to the structure (black line), second, a .618 and a .382 fibonacci retracements, third, an AB=CD pattern that's completing just a bit above the black line. So, what i would do is wait for price to enter the blue zone and see what's the price reaction to that level, while looking for some weaknesses signals, in order to sell at market. I'll keep you updated. If you have any question, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
2
Previous Support Becomes ResistanceHey guys, some simple price action analysis here. On the daily timeframe price is going to retest previous support that once broken should become resistance. On the lower timeframe (4h) we can see some different clues pointing in the same direction: first, a butterfly pattern that's completing very close to the structure (black line), second, a .618 and a .382 fibonacci retracements, third, an AB=CD pattern that's completing just a bit above the black line. So, what i would do is wait for price to enter the blue zone and see what's the price reaction to that level, while looking for some weaknesses signals, in order to sell at market. I'll keep you updated. If you have any question, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1