FullTimeTrader
Long

EURCAD-broke and bounce from 1.4000

FX:EURCAD   Euro Fx/Canadian Dollar
251 8 10
A nice simple technical setup, the price broke the 1.4000 level, did a pullback and now is bouncing from it.
We have also the trendline acting as support.
Best regards.
Hi, very nice.
But the way i see it is, inside bar D1 with RSI divergence. Showing indecision, with possible short term down move.
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FullTimeTrader PriceActionTrading
a year ago
Hello, the way i trade it, the inside bar is a pullback and i expect the next bar to be a big bullish candle. I see no divergence on RSI or is very weak. Off course tomorrow i will close all EUR positions.
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PriceActionTrading FullTimeTrader
a year ago
Yea. I understand, a D1 close above 1.4000 is significant too. Lets hope it can maintain a close above 1.4000 on the W1 scale.
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Anyways you have a buy EC and sell EN... When their correlation is 90% most of the time on the D1 timeframe...
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FullTimeTrader PriceActionTrading
a year ago
You are right, its risky and i can be stopped out, the EURNZD idea is based on the assumption that the NZD will recover very quickly next days (and the EURNZD will go down). Thats why i took the NZDJPY counter trade and so far with profits.

NZDJPY-bouncing on EMA 200-bullish butterfly
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PriceActionTrading FullTimeTrader
a year ago
Very likely. Im holding NZDUSD long too. Im seeing confirmed reversal on NZDUSD.
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FullTimeTrader PriceActionTrading
a year ago
We are on the same train on NZD, good luck!!
+1 Reply
Good, it seems we are at the same page. Have a great weekend guys
Second attempt EURCAD
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