Waiting for a clear break of structure on the EURCAD before I can actually enter the trade.
I would say it is still in a valid bear structure, but there is bull momentum to it too. Buyers are trying to drive the price up on the 4hour timeframe.
If they are successful in breaking the bear structure, I will wait for sellers to bring price down and test the region again. Then see if buyer can hold the level by overpowering the sellers.
Only then will I enter the potential buy.
The alert is turned on at a region to notify me of when the breakout occurs. Since I do not stay in front of the charts, I prefer to be notifed of a breakout. Then I will issue another alert for when price comes back to retest region.
I would say it is still in a valid bear structure, but there is bull momentum to it too. Buyers are trying to drive the price up on the 4hour timeframe.
If they are successful in breaking the bear structure, I will wait for sellers to bring price down and test the region again. Then see if buyer can hold the level by overpowering the sellers.
Only then will I enter the potential buy.
The alert is turned on at a region to notify me of when the breakout occurs. Since I do not stay in front of the charts, I prefer to be notifed of a breakout. Then I will issue another alert for when price comes back to retest region.