ForceFollower
Long

EURCAD H4: At the trendline

FX:EURCAD   Euro Fx/Canadian Dollar
166 22 2
Now that we're again at the trendline, can we expect the price to bounce off of it again? And can we not? The euro             is still one of the strongest currencies , whereas the CAD is relatively weak. The trendline provides an opportunity of fresh entries for buyers. As the rule says, the trendline always works until... it doesn't. Or in other words, beat the trendline to death, until it dies. So it's possible we'll see another rally to 1.5. Otherwise there's going to be a trendline break and price will plunge to the low of 1.459.
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ForceFollower
a year ago
Heading for support.
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moorekapital PRO ForceFollower
a year ago
1.4750000 seems holding ;)
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ForceFollower moorekapital
a year ago
Hi, thanks for the comment.
Yes, it does. But at the same time, it doesn't look like it's done falling. I expect another dip down finished off with a clear wick of a candle to the downside. I think it's going down to 1.468-1.470, just to rebound upwards next.
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moorekapital PRO ForceFollower
a year ago
Lets monitor this together
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ForceFollower moorekapital
a year ago
With pleasure.
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moorekapital PRO ForceFollower
a year ago
Sure, it's more of a ZONE than a single price
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ForceFollower
a year ago
Going back above the trendline. Let's see, if the rally can make it to the red trendline - upper border of the channel.
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moorekapital PRO ForceFollower
a year ago
Looking like +/- 1.4750000 held ;)
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ForceFollower moorekapital
a year ago
Yes, it did. It looks like we've had a fake rally so far.
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moorekapital PRO ForceFollower
a year ago
current 4H bar not done yet. Btw, I'm focused on the daily. I'll get the true picture by NY close tonight.
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IvanLabrie TOP moorekapital
a year ago
USDCAD and EURUSD are more tasty than eurcad right now.
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ForceFollower IvanLabrie
a year ago
Thanks for the comment.
Yeah, EURUSD may be on its way up to 1.125. As for USDCAD, I've got mixed feelings: I'm bullish about it but it doesn't look like it's got a lot of energy to go up.
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IvanLabrie TOP ForceFollower
a year ago
Hence why EURCAD is a bit conflicting, and EURUSD might just move faster.
I shorted usdcad, and went long eurusd...let's see how it goes.
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ForceFollower moorekapital
a year ago
Sure. Looking better now.
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moorekapital PRO ForceFollower
a year ago
I figured that 'the current candle' is only an "illusion" until it closes.
For me, a bar isn't a bar until it's completely formed. Period.
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ForceFollower moorekapital
a year ago
That's a good rule. Otherwise we get fooled too often.
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moorekapital PRO ForceFollower
a year ago
Certainly! A bar might look as if its falling( going to be a bear bar) or say, bears are winning the fight for that particular session , be it 4H bar or daily bar, but then, we see a completely different picture/colour when it closes and a new one forms. Ive been bitten 1000's times, until i learnt to be patient to see the bar close.
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ForceFollower moorekapital
a year ago
It's somewhat counterintuitive to wait until the bar is closed, esp. if you're hungry or thirsty and you want the bar to be open. :) OK. that was a joke. Sure, the closed daily or 4h bar shows the final net result of the period's price action. Worth waiting for in order not to feel like a fool.
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I think we have a useful trendline , when coming down on this guy following a successful test of top ;)
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ForceFollower moorekapital
a year ago
Yes, this one seems to be working better.
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URIFX
a year ago
Same idea! Good luck to all!

EURCAD: Brekout will confirm a bullish in both trends: bear/bull
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ForceFollower URIFX
a year ago
Thanks for the input. I'm not that bullish about, but who knows? First let me see this bearish channel broken.
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