EURCAD - Take profit on shorts, try to re-sell later

FX:EURCAD   Euro Fx/Canadian Dollar
63 0 2
Please see original short trade idea on the link below.

- The trend is bearish , and will likely stay bearish for long term.
- Last two weeks Price drop was very strong, sending haDelta down to extreme low level. Heikin Ashi candle close will likely be at/above 1,3500 resistance. From this setup the chance of correction towards 1,3700 - 1,3800 is increasing.

- Very bearish Ichimoku setup, but Price is far below Kijun Sen and the Kumo, considered to be oversold.
- Heikin Ashi candle gives first warning signal of a possible consolidation (slowdown in trend) or a pull back ahead. haDelta turns up above SMA3 after reaching extreme low.

This is not a call for a counter long! If you check 4H time frame, you can see it is far away from turning counter bullish . It is just a call for profit taking.
The main recommendation is to resell the pair at 1,3700 - 1,3800 support area .
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out