As you can see the market was very bullish in the last few candles.
Now it reached the resistance and formed the engulfing pattern.
So, when this candle closes, we have our confirmation to sell.
Thanks and good luck!
The selling pressure on this pair , is still active . With my technical perspective this pair still has more room to the downside . The risk to reward meets my strategy , so i'm opening a sell . Trade duration 4-6weeks .
Any questions let me know .
Hi All ,
This pair , present itself for a sell scenario , over the past week , there haven't been enough volume to move price slower , & oil price has been playing is part on this pair .
Techinically i would wait for an entry at 1.34-5 region , but i'm taking a more aggressive entry on this pair due to FED meetings & note .
Hey everyone. In this chart we can see potential movement down and also we can see that RSI almost oversold. And it is so close to the key level.
Our plan is :
Sell limit - 0.67941
TAKE PROFIT - 0.67763
STOP LOSS - 0.68008
Hey everyone. Today I analysed EURCAD and we can see potential head and shoulder and we have really good risk/profit reward. Also we can see RSI divergence and it proves us the potential movement down
Our plan is:
SELL LIMIT - 1.47534
STOP LOSS - 1.47701
TAKE PROFIT - 1.47193
Set up: Oil prices are testing the daily down trend line which coincides with a strong zone of resistance. SL is set at the high of last week (57 area) and the TP at the lows of the last week (53.8 area)