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andrew-profit-trader-winner
Mar 16, 2017 8:36 AM

ERUCAD Contracting & Expanding Triangles Doubles Short

EURO / CANADIAN DOLLARICE

Description

Observation:
1 - Price action reach 1.403999 shortage zone, allot of buyers bought in this zone because they think the price is cheap.
2 - Consolidation at 50% then resume to reach Surplus at 1.60836
3 - Price action test dynamic support of the contracting triangle
4 - Price action makes new dynamic resistance
5 - Price breakout at 1.4296
6 - Price continues to test new dynamic support

Probability
Price action goes down to test dynamic support of the expanding triangle
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