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riffster21
Dec 12, 2016 7:05 PM

EURCAD Box trading - always fun Long

Euro Fx/Canadian DollarFXCM

Description

Sorry, I should have posted this earlier, but I was too busy catching the first trade. The EURCAD is one of my favorite pairs. Good ATR's and fairly easy to predict. The double head-fake below support probably caught a few traders off-guard. However, the recent move up should provide some nice box trading. Use down-trending support and 1.4280 as resistance. Keep in mind that this range will expand over time. Fibs work great inside boxes. I put 'long' as the initial bias for this pair because we are much closer to support, but once it hits the mid point of this range, it could easily reverse. Always keep an eye on news.

News - we hate you, but thank you.
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