Fxprotrader
Short

EURCAD Sell Opportunity In Two Scenarios

FX:EURCAD   Euro Fx/Canadian Dollar
339 12 16
After a big rally price is in a corrective structure and in the long run i expect this market to rally once again. Now in the correction we have a smaller impulse to the down followed by a smaller correction. We should keep an eye for price to break below the correction and sell. We might have another move up till the 0.618 fib level of the smaller impulse where i personally go short from that level. As a profit target i will aim the trnedline which connects the previous lower swwing points of the corrective structure..

Simple, clean charts have the biggest value..!
yew come back to us, he go over 61 where i sell I'm still hold it need to see a fall soon !
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Any update? Double top then drop maybe?
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No double top here.. It's still moving into the smaller correction but now it has tested and the upper bond of the larger correction. From there we should see a reversal buy we should wait a little..
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mustard Fxprotrader
I am already long, I was thinking the May 24 high for a double top?
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Can you post your setup please..?
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mustard Fxprotrader
I would be looking to run an intermediate short position on a rejection at the previous resistance.

EUR CAD Long
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That's great..!
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Fxprotrader Fxprotrader
But i think you used the stoploss, profit target tool wrong..!
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mustard Fxprotrader
I am long off the hammer candle with one position, but would be looking for a potential counter trade if we get a further rejection at resistance.

If the LTL support holds on a retest and we get a break above that resistance level, then I might add long for a higher target, possibly a retest of the 1.50 level.

Of course, I could be completely wrong and the thing nosedives and I would need a total rethink, but my long targets would still be the goal.

I actually no longer employ the use of a stoploss in my methodology, I just showed it for illustration, just below the previous low of the hammer wick.
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ok i see..
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