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ProjectSyndicate
Jan 10, 2021 3:36 PM

EURCAD trade: +250 pips PNL +100 pips remain (SHORT) Short

Euro Fx/Canadian DollarFXCM

Description

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EURCAD trade: +250 pips PNL +100 pips remain (SHORT)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.
tagged as SHORT because I expect reversal
from overhead. read entire idea before shorting!

congrats if you followed original trade.
running at +250 pips already. +100 pips remains.
click play to recap.


🔸 Summary and potential trade setup
::: EURCAD 16hour/candle chart review
::: if you are SHORT then HOLD IT
::: exit later near 5300
::: breakdown of 5300 possible
::: however 5300 is a conservative target
::: so make sure you get out
::: currently trading in mid range
::: trading here is risky
::: for best results short from overhead
::: 5750/5800 heavy resistance levels
::: BEARS will take from there
::: expecting pullback / re-test of 5550
::: get ready to SHORT HIGH
::: best entry: 5750/5800
::: or short sell rallies/rips
::: recommend to SHORT/HOLD 5750/5800
::: recommended strategy: SHORT/HOLD 5750/5800
::: TP1 BEARS +150 pips TP2 BEARS +250 pips
::: final TP BEARS is 5550
::: SWING trade setup do not expect
::: fast/miracle overnights gains here
::: good luck traders
🔸 Supply/Demand Zones
::: 5550 fresh demand zone
::: 5750/5800 fresh supply zone
🔸 Other noteworthy technicals/fundies
::: TD9 /Combo update: N/A
::: Sentiment short-term: BULLS
::: Sentiment outlook mid-term: BEARS
Comments
Dave-FX-Hunter
Yeah EUR is really weak !!
KlejdiCuni
Very possible move. Well done buddy!
UnknownUnicorn10582182
Nice job man!
shelsingh
Very good analysis - my system shows the same for this week
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