H4 - Bearish trend pattern.
Currently it looks like a correction is happening.
No opposite signs.
Until the strong resistance zone holds my short term view remains bearish here.
EurCad recently attend a peak of a bullish impulse, I believe it's now time to go for a short, at least not for too long.
The 1.35334 level looks very attainable before pulling back to become bullish again. While, if it goes below 1.34212, I will start watching out for a continuation of the bearish trend by looking for a short position.
NOTE:
This is not a...
Bearish trend continuation confluence trade on the EURCAD 4H.
1. Overall bearish trend
2. 3x trendline touches
3. Retracement to the 50% level from the most recent swing (not closed above)
4. At previous structure swap zone
5. Entry on bearish pin bar (aggressive)
Entry: 1.35429
Stop loss: 1.36152
Take profit: 1.34001
Risk/Reward: 1/1.98
On the H4 time frame, we are seeing a bearish order flow with the break of structure below the H4 low. On the M30 time frame, prices mitigated a key supply zone area where we saw a reversal and a pullback to test its resistance zone at 1.43272, in line with the 78.6% Fibonacci retracement could present an opportunity to play the drop. Stochastic is approaching...
Hey everyone! Prices are testing resistance in line with 78.6% retracement and extension where we could see a reversal here. Overall direction for me on the bigger time frame is still bullish, playing the pullback here. What are your thoughts on EURCAD?
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Last week the pair was pretty strong, and even broke some support levels, but seems the buying threshold has been met something like that , the buyers are lossing strength.
So this week i will be expecting a good bearish trend for this pair but also expect some pillbacks.
Have a profitable week traders
