TradingView
RX-93
Sep 1, 2020 8:49 AM

EURCAD Possible Buy Opportunity Long

Euro Fx/Canadian DollarFXCM

Description

1) D1 shows Rounding Bottom and highest price capped at around 1.59.
2) Zooming to H4, price respected downtrend channel by bouncing inside the channel, thus creating the "Handle".
3) Demand Zone was marked from previous price (23 Jul 2020). [Price Range : 1.54754 - 1.55162]
.
.
I expect the price to go back to the demand zone and bounce up, if it break the channel after bouncing from the supply zone, it'll be a possible buy opportunity.
.
.
This is just my idea, we can't control the market. Any idea just comment below. Good luck! :D
Comments
Subrato-Nandi
should wait for a breakout!
RX-93
@Subrato-Nandi, haha it's time
Lleyton-Lloyd
set up looks promising any advice on how i could better my tradiing .....running in a rough patch
UnknownUnicorn5874786
you should wait for a breakout from that channel :) would be less risky in my case
RX-93
@bigmike444, yes i should've waited just a little bit more haha.. it's okay, let's wait for another opportunity :D
thom_as_a_moth
would you put your SL just below the demand zone 1.5460 around? or lower?
RX-93
@thom_as_a_moth, yes i'd put my SL just below the demand zone around 1.5460
RX-93
@thom_as_a_moth, keep in mind, if the price is able to make a new higher high, you can move your SL above your entry
More