Roker1
Short

False Breakout on EURCAD?!

FX:EURCAD   Euro / Canadian Dollar
Hi guys,

this is what i call "False Breakout". I've posted an analysis on this pair in the last days but i was unable to take that trade (fortunately) as explained there (see attachment).
Nevertheless, i'm not in any correlated trade right now and i can indeed take this trade if the market will let me do that. The reason i think this could be a false breakout is due to the very strong reaction we've had after the break of that daily structure (yellow box). In the hourly chart (this one) i also see a small break of intra daily support: this gives me an edge and i'm placing my order with the blue line, with stops above the highs, and targets as shown.

If you have any idea/question, feel free to comment below.
Otherwise, see you in the next chart!
Trade active
Trade closed: target reached: First target hit! Stops moved to breakeven. Btw, i've just published the latest videoanalysis, click the link below to see what i'm looking at this week!
Se sei d'accordo, lascia un mi piace! Grazie
Canale Italiano: https://www.youtube.com/c/MisterForexIT
Ultimo video: https://youtu.be/0rIFF-j4kdM

If you agree, like this chart! Thanks
My last (english) videoanalysis here: https://youtu.be/RUySg8LW6Iw
On point as always thanks so much for the analysis!
Reply
So you took it now I reckon, great work
+1 Reply
Roker1 GeorgieThe
@GeorgieThe, thanks!
Reply
Thank you for sharing your ideas. I am looking the same price zone. Good luck:)


+1 Reply
Roker1 KlejdiCuni
@KlejdiCuni, you're welcome! Nice chart, let's see how it goes
Reply
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