Trading Criteria: Regardless which way you want to trade, look for minimum five 4hr. candles in consolidation zones (yellow border boxes), or five daily candles for solid yellow boxes. If you're a pattern trader or pinbar trader, this might be useful here. Wait for the breakout of the 4hr. consolidation or daily consolidation from red border boxes to take the...
Go long the EURCAD; see the entry, stop loss and profit exit price information on the chart. Follow, like and comment on this trade idea!
Off the 200MA and pitchfork in a corrective swing move up.
EURCAD Sell Idea @ Daily Supply Zone (1.52365 - 1.53204) Sell Limit: 1.52305 Stop Loss: 1.53318 Take Profit: 1.49104 Risk Management = 0.01/$100 Recommended Leverage not to exceed 1:50 Recommended Risk Ratio 1:1.5 – 1:3 Close partially the contract once it reaches 50% of profit, Move stop loss over the entry level Close partially the contract once it...
D1 - Price has reached the top of the triangle pattern, if we didn’t get a valid breakout here we may then expect the price to respect this pattern and move lower again. H1 - Price has currently reached a critical zone, bearish divergence. We also have a good uptrend line that has formed, hence if the price moves lower and breaks below this trend line we may...
D1 - Price broke above the top of the triangle pattern. H4 - We may now look for pullbacks to happen and then we may start looking for buys with more bullish evidences.
EURCAD is rejected from level 3 TD trend line which is serious resistance 3 X L3 TD points along on the same line. It seems like double topping at the resistance but in case of it break out of the resistance I would expect to hit at least the #1 target. Still be aware of the possible double top. Next week will give me a better opinion on this.
Open buy near 1.51415 Goal 1.53 Price broke up key Mirror level. Daily candle closes above it.
Per my chart, looks like EURCAD has had a bullish break of multiple resistance points after a few tries in the last couple of months. It has also been working on a large rounded bottom pattern since August that I"m hoping builds into a trend. Waiting on buy signal on a retrace.
If Eurcad reaches the 200MA on daily... I said "IF". Great place to slap a sell on. I'm saying if it were to do that without changing structure, then we can have a potential break of the low, as this wave is corrective. Just something to note.
W1: Devergence D1: My plan:
PA is still 40 pips away, but important news on the CAD side (10 am EST) might make it accelerate (on any direction, so be careful) Numbers look like: Entry: 1.51224 SL: 1.51500 TP1: 1.50428 (.386AD 2.89 RR) TP2: 1.49937 (.618AD 4.66 RR)
Prepare to Short using the Gartley method