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Aqua_Trader
Sep 24, 2017 6:28 PM

EURCAD - MY MOST CREATIVE CHART YET - MORE DOWNSIDE EXPECTED Short

Euro Fx/Canadian DollarFXCM

Description

As stated on the title this happens to be the most creative I've gotten with a chart, yet it covers one single but very important aspect which is Market Psychology. Market Psychology is key to understanding financial markets and we can see it unfold with this chart analysis. We can clearly see all the stages labeled out during the uptrend and what is now happening during the downtrend, and all these stages can be characterized by market psychology one way or another. I expect the pair to carry on with the downtrend all the way down to the 1.38xx - 1.39xx levels. The light blue colored zones are potential Demand zones. I know you shouldn't be using them as targets until they actually close in those areas, but there is evidence that makes me believe it will reach down to both of them.

Trade safe and implement your own due diligence before entering a trade.

Comment

Could potentially go for one more small move up before coming down

Comment

a small update...the bias still remains bearish although I would reconsider my initial targets

Comment



although it hit my stop initially the bias still remains bearish
Comments
RealProfits
great chart!
Aqua_Trader
@RealProfits, appreciate it :)
NeverNO
hi,
yes, you create a nice chart... but just for the case here an alternative...


NeverNO
@NeverNO,

white a b c now correct

:-)
NeverNO
Aqua_Trader
@NeverNO, appreciate the feedback. Interesting view
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