After a recent rally price action has reached to a major level of structure and reversed. Price then pushed up a little bit to test the support with a bearish engulfing candle which suggests a bear run for now. I have gone short and marked tp and sl for you as well.
Trade safe and good luck.
Don't forget to share your thoughts as well.
EURCAD - Short
Entering short because of the consolidation.
i have entered short now for reasons such as
>it doesn't seem to be able to make HH's
>Daily TF we are down trending
Will be entering again once there is a breakout candle to the downside.
Any questions feel free to ask
I recently marked up this pair with a bearish prospective ( i have attached the mark up) since then, price moved bearish and hit our take profit level. Price has moved bullish since then into what we can potentially see as a retracement. We may then see price break lower and move toward our take profit level.
Entry - grey line
Stop loss - red line
Take profit -...
EURCAD on the DAILY time frame has reacted heavily to a previous zone of reversal, closing the day as a bearish engulfing shooting star.
Wait for a pullback and further decline for an intraday short opportunity.
1. This profile is for educational purposes ONLY!
2. The setups given are my own perspective of the forex market and by no means require action!