TheSignalyst

EURCAD - Trend-Following Setup!

Short
FX:EURCAD   Euro / Canadian Dollar
Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.

EURCAD is overall bearish trading inside the brown channel, and it is currently retesting the upper brown trendline.

Moreover, the zone 1.37 - 1.38 is a strong resistance zone .

So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the green resistance zone and upper brown trendline. (acting as non-horizontal resistance)

As per my trading style:
Since EURCAD is approaching the purple circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)

and of course, as it retests the blue support, I will be looking for buy setups.

Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich

This analysis is done using RichTL
https://www.RichTL.com

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