polswid

EURCAD possible short

Short
FX:EURCAD   Euro / Canadian Dollar
Potential short opportunity from this supply zone on EURCAD if price were to pullback and fulfil the imbalance it has left behind. We are in an overall downtrend on the hourly timeframe, so for me, I'm on the lookout for selling opportunities. I like this supply zone because it has created a break of market structure to the downside which tells me it is a strong high which institutions may fight to hold. If price does retrace and mitigate said supply zone, I myself will be awaiting a further confirmation before entering a sell position to the low of the leg.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.