I was stopped out from my set up to counter trend trade this pair. Well, I'm disappointed but losing is part of trading and as long as I know how to manage my own risk on every trades, I'm ok with it. I'll keep watching on this pair if the price can break the resistance level and wait for price action on the pullback to take long position. If this pair does not...
Counter Trend Trade. My idea is to trade the pullback at least to the first bear fractal on the 4H chart. Daily chart shows a big bullish candle and the price may still goes up touching the top line of the resistance level. My psychological resistance level is based on the resistance level in 2016 previously. Why I take this trade is because the inverted hammer is...
Small pull back, I think it will go up 30M
EURCAD has been forming Lower Lows and Lower Highs and has retraced to the 61.8 Fib in the 4hr time frame great opportunity to go short
Previous resistance becomes support and 0.618 fib has been tested on the daily time frame. great opportunity to stay long on EURCAD.
i SHort the eurcad i found cad is undervalued and i see nor eason why eur still strong the eu cpi was just in line with expectation and core cpe missed expectation 2 ifo this morning was bad..he up just because of risk sentiment and speculation same as gold short at 1.5251 target 1.5133 sl 1.5315 gain 152 SL =64
Using the Daily chart trend, I'm expecting a strong sell on EURCAD.
I've been disgustedly inactive due to hectic school schedules as well as slow internet connectivity. For that, I will be publishing my rationale on why I entered the following trade. For the past days, I've been obsessed with Canadian Dollar pairs. If this Forex pair does break the graphed line, it may possibly dip to the 1.42500 area.
Our preference: lighten as long as 1.4707 is stopper with 1.4491 as objective. Alternative scenario: the overflow of 1.4707, will validate an increase over 1.4785 and 1.4832. Comment: The RSI is below its neutral zone of 50. The MACD is positive and below its signal line. The MACD must press the zero line to confirm a continuation of the drop. In addition, prices...
After the huge decline of the Euro and Loonie Forex pair, it has formed a consolidation on lower time frames showing that it may continue its decline later on with the formation of a descending triangle.
Bullish Pennant after Bullish Impulsive Move. Notice that volume is declining as Price consolidates into the pennant. We also have Divergence as RSI does not conform to Price Action making lower lows. For profit taking targets, we set it at a 1:1 ratio of the flag pole measure from breakout of the pennant. We enter long orders upon breakout of the pennant...
EUR/CAD is currently in a bearish trend and can extend it's loss 300+ more pips down. This is definititely a trade opportunity to keep an eye on. As always, money manage properly and invest only after your own analysis. Happy Trading!