Accumulation is done. potential up move on final wave 5

Hi Traders, this is my plan for this pair, if the all conditions will be met I will enter (or might not). Make sure you follow me all updates will be shared here from opening until the close of the trade. Don´t hesitate to comment with any questions and hit like for the support.

Reason: EUR COT speculators has rising long positions

CAD - The Bank of Canada has cut the rates again and the Canada is very exposed to the global trade which is completely down due to the COVID19. COT the hedge fund has reduced the shorts positions on the USDCAD and it flipped to the positive net positions numbers 4 weaks ago.

Technical: Price was in the descending accumulation phase and the wave 4, it has reached the bottom in the demand zone. Beautiful drop to the liquidity zone was followed by bullish push up with notable volume and break thru descending trend line. Anticipation of the wave 5 can give us 635 pips profit. Im already in the trade.

FX Hunter Strategy is based on mainly watching the big picture of overall world economy and dividing the FX pairs in to couple baskets.Following the volume of big players ( COT by CFTC) and tick volume helps to see what the market movers are doing. Parallel channels, Supply / Demand and Market Profile are used to determine levels of interest for the trading. Slight usage of Elliot waves for the market structure.

Trade active:

Comment:

+84 pips running

Trade closed: stop reached