EUR/CAD long opportunity from the botm of a range
Good morning,
Here's my idea on EUR/CAD for the next week:
Weekly chart: Price at the most recent weekly support.
Daily chart: Strong trend and price starts moving sideways with no lower lows from 1.5800 and no higher highs above 1.6100. I define this as a range within a strong uptrend.
Based on this idea I am looking to buy this from the H4 chart but firstly I wanna see 1.5900 challenge, test for better risk to reward and buy it for potential targets around the recent H4 high and
top of the range as further target.
Good luck :)
Here's my idea on EUR/CAD for the next week:
Weekly chart: Price at the most recent weekly support.
Daily chart: Strong trend and price starts moving sideways with no lower lows from 1.5800 and no higher highs above 1.6100. I define this as a range within a strong uptrend.
Based on this idea I am looking to buy this from the H4 chart but firstly I wanna see 1.5900 challenge, test for better risk to reward and buy it for potential targets around the recent H4 high and
top of the range as further target.
Good luck :)
Comment:
Price is currently below 1.5900. So, I will wait to see if it is willing to challenge this recent seller from the H4.
Comment:
I've got the setup. Possible entry - tormorrow's London session. Will see the reaction
of the small area.
of the small area.
Comment:
There was no entry because of aggressive test after the strong bullish candle.