Hello, colleagues. I've put sell order at EURCAD. Price moves downwards and draws 8 bars with big pins upwards near the pullback . The pullback is 50% of the previous movement.
On Friday the great bear pinbar has formed.
Starting R\R 5:1
I wish a successfull trading week to all.
1. The downtrend intervals every 280 to 282 bars
2. The uptrend intervals every 198 and 205 bars.
3. Price divergence on weekly
4. The pair has retested the 0.25 Pitchwork
5. Next major swing low is on 14/03/2018
this is what i call "False Breakout". I've posted an analysis on this pair in the last days but i was unable to take that trade (fortunately) as explained there (see attachment).
Nevertheless, i'm not in any correlated trade right now and i can indeed take this trade if the market will let me do that. The reason i think this could be a false breakout is ...
i'm already involved in this two currencies so i'm taking this particular trade, but i think it could be useful to some of you that trade this kind of patterns. We're sitting at a previous level of structure on the daily and we have a D completion point of an harmonic pattern formation.
With stops above X and targets with Fibs it could be a nice trade, ...
this is a trend continuation trade that i was paying attention to from last week. Now price has finally reached the structure zone and i want to be able to capture the movement that can be generated here, hopefully on the right side, that i think is bearish. That's why i'm waiting for a double top completion in order to get an entry signal to the ...
1.Weekly Trend line broken
2.Support broken Resistance valid
5.Profit margin 1:3
Price action tried to push price up passed the 14833.7 but resistance was too strong
The EURCAD reacted nicely the last time it moved into an inflection zone and pushed down (first Blue box). The longer term chart is calling for lower prices, significantly so. With all of the commodities starting to suggest that their consolidation and period of deviation is coming to an end, the prospects for the commodity currencies is growing.
The Bank of ...
this evening i've spotted this nice shorting opportunity on EURCAD. Price is testing a key daily level of structure and as soon as it touched that it got pushed down by sellers. There's also a psychological number and RSI divergence on 4H chart. Stops above highs, targets as displayed above.
Let's see how it plays out!
If you want to share your view or ...