Hi traders,
i want to share with you some of my analysis here on EURCAD.
Right now we are sitting on a daily support level (blue line), which was rejected more than once by price.
We have just put an engulfing candle after a 1pip-missing double bottom.
This could be the first signal of a big reverse, together with that huge rsi divergence going on for the last lower lows.
My first target would be at 1:1 RR knowing that the stoploss has to be 30 pips under the low.
Second target along with structure.
If you have any comment, please do.
Otherwise, see you in the next chart!
i want to share with you some of my analysis here on EURCAD.
Right now we are sitting on a daily support level (blue line), which was rejected more than once by price.
We have just put an engulfing candle after a 1pip-missing double bottom.
This could be the first signal of a big reverse, together with that huge rsi divergence going on for the last lower lows.
My first target would be at 1:1 RR knowing that the stoploss has to be 30 pips under the low.
Second target along with structure.
If you have any comment, please do.
Otherwise, see you in the next chart!