Kumowizard
Short

EURCAD - Bearish, or just another bear trap?

FX:EURCAD   Euro / Canadian Dollar
64 2 4
Weekly:
- Ichimoku setup turns bearish again, as Price breaks back below Kijun Sen. However we have to be careful where and how we open shorts, as all long term averages (Tenkan, Kijun and future Senkou A and B lines) stay together between 1,3750 - 1,3870.
- Heikin Ashi gives bearish signal (however the week has just started)

Daily:
- Ichimoku setup back to neutral. Major bearish trendline held, minor bullish trendline broke. Price is at support/resistance now at future Senkou B (Kumo)
-Heikin Ashi is bearish again

It looks like a sell again, but we have to try to sell it on spikes and we need some confirmation later as well. So be smart with entry points and sizes, volatility will be more extreme in coming days.

Another reason not to build a huge size at once is that as last time it proved to be false bullish , this time it can become a bear trap too.

Anyway, if I had to chose short EUR, I'd rather do it against CAD than ag USD.
i have just entered short after closure of H1 pinball at sloping resistance. fingers crossed
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thx for sharing

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