I am selling a hammer pattern that indicates a reversal of the price to a down trend.
The stop loss will be at the top of the hammer and the gain at the 100% fibo expansion of the pivot.
Well , I have two or three reason that the EUR/CAD is going down as I think that we have take short position
first reason as you see , in the daily chart , the price reached the top of the ascending trendline border and the a double top pattern is made creating a two year major resistance ...
as well as I read before that there may be a hike next april for the...
i`m expecting to fall more and strong , hence for shorting might have some moves up base on pivots but they are not strong to change short trend! be patient and take profits :)
Good Luck!
After a bearish week previously I am looking for additional trades short after profiting from the initial break of the inside trend line. A little retracement up to 1.2400 area could provide an optimal short opportunity with targets down at 1.2500 with a 2:1 risk reward.
if market does not retrace, a strong close below 1.23113 will also provide a decent shorting...
