Eur/Cad Monthly Timeframe (Sad or Happy Smiley Face Indicator).
From the past seven years (7 years) of monthly Euro/Canadian Dollar pair, the following happen:
5 years- monthly ended up Green (Blue Candle) Happy smiley face (buyers won)
and
2 years- monthly ended up Red (Red Candle) Sad smiley face (sellers won)
That is around a 70% buyers winning the month of August vs 30% sellers losing the month of August= for the last 7 years.
If you are playing the odds and or trading Forex with probabilities in mind, you would put more buying trades on for the rest of August because of the cycler nature of Forex. Always look at how low the RSI scale right now, which measures movement of pair (its down very low now).
I would continue buying when this pair is at the right price, during right session and at the right time of day, in my opinion the Eur/Cad pair will end up at 1.32000 by end of this month. That is around 150 pips to bullish side, from PA now. Always, use right risk management for your account size, 2% is mine.
5 years- monthly ended up Green (Blue Candle) Happy smiley face (buyers won)
and
2 years- monthly ended up Red (Red Candle) Sad smiley face (sellers won)
That is around a 70% buyers winning the month of August vs 30% sellers losing the month of August= for the last 7 years.
If you are playing the odds and or trading Forex with probabilities in mind, you would put more buying trades on for the rest of August because of the cycler nature of Forex. Always look at how low the RSI scale right now, which measures movement of pair (its down very low now).
I would continue buying when this pair is at the right price, during right session and at the right time of day, in my opinion the Eur/Cad pair will end up at 1.32000 by end of this month. That is around 150 pips to bullish side, from PA now. Always, use right risk management for your account size, 2% is mine.
Comment:
looks like a blue monthly candlestick on Eur/Cad and/or a green smiley face to end month. I thought so. Good luck in trading.
Trade closed: target reached