Short term trade for 1:1 R/R.
Daily chart shows signs of deceleration within 0.72500 - 0.7300 support/resistance zone.
On 4H chart pairs has created high test candle rejecting 0.7300 resistance area. Zooming in to 1H chart we can see that it also created small H&S pattern. Based on it I've set up an short entry on Pivot Point retest from the downside....
Greetings traders!
I will be entering short on EUR/CAD as the price decelerated and rejected the 50 EMA, 0.5 Fibonacci level and MACD divergence in place as well. This looks like the first pullback of the trend started on 10/10, breaking out violently from the ascending wedge, suggesting a continuation of the major trend that started at the beginning of...