Roker1
Short

Previous Support Becomes Resistance

FX:EURCAD   Euro / Canadian Dollar
Hey guys,
some simple price action analysis here. On the daily timeframe price is going to retest previous support that once broken should become resistance. On the lower timeframe (4h) we can see some different clues pointing in the same direction: first, a butterfly pattern that's completing very close to the structure (black line), second, a .618 and a .382 fibonacci retracements, third, an AB=CD pattern that's completing just a bit above the black line.
So, what i would do is wait for price to enter the blue zone and see what's the price reaction to that level, while looking for some weaknesses signals, in order to sell at market.
I'll keep you updated.

If you have any question, feel free to comment below.
Otherwise, see you in the next chart!
Comment: Bigger picture:
Comment: Price is in the reversal zone
Se sei d'accordo, lascia un mi piace! Grazie
Canale Italiano: https://www.youtube.com/c/MisterForexIT
Ultimo video: https://youtu.be/0rIFF-j4kdM

If you agree, like this chart! Thanks
My last (english) videoanalysis here: https://youtu.be/RUySg8LW6Iw

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out