EUR/CAD have been really bearish since 24th of June , there was a wyckoff distribution before the fall down to the current price at 1.3523. so the general trend is obviously down and with the bearish market structure still being respected , I'm on the bearish mode with this pair of $EUR/CAD .
if we look thoroughly to look for some other bearish confirmations , the fact that the price broke down under 1.3548 ( a strong previous support) is one other bearish confirmation , and with the current 4 hours candle trading with a huge up wick is a sign a sellers being in control of the market , and if we look left there is a huge limo candle that is currently being filled so i'm expecting it to be fully filled ( I'll do an educational post about the concept of the candles fill don't worry ) , so with all this technical confirmation my biggest odd is with the sellers , so if we break under 1.3512 ( this is were the safest sell is at ) there is a high probability of price continuation down to 1.3451 .
I hope the instructions are clear
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if we look thoroughly to look for some other bearish confirmations , the fact that the price broke down under 1.3548 ( a strong previous support) is one other bearish confirmation , and with the current 4 hours candle trading with a huge up wick is a sign a sellers being in control of the market , and if we look left there is a huge limo candle that is currently being filled so i'm expecting it to be fully filled ( I'll do an educational post about the concept of the candles fill don't worry ) , so with all this technical confirmation my biggest odd is with the sellers , so if we break under 1.3512 ( this is were the safest sell is at ) there is a high probability of price continuation down to 1.3451 .
I hope the instructions are clear
if you find the post of use and value please do support it by liking it and commenting it , and make sure to follow me if you didn't yet so you don't miss the new posts notifications many analysis and trading setups are to come so don't miss any !
I see you soon in the next post !