Currency Pair: EUR.CAD Time Frame: Weekly, Daily, 4hr & 1hr Predicted Direction: Short
EUR.CAD updates will be available in the comments section below.
The brief trade analysis presented above is my predicted direction and requires multiple different indicators and confluence factors prior to validating a trade opportunity.
Kommentera
⋅
A pullback has begun, however currently there is a lot of 4hr & 1hr bullish pressure so i would advise awaiting deceleration prior to just jumping into the market blindly.
@wayne4x, It would all depend on your rules, for me there is only a pullback, no clear indication that price is going to reverse.
ofa
⋅
did u take this trade Tom?
TradeSpotter
⋅
Any specific reason for not targeting/expecting a lower low ?
UnknownUnicorn180388
⋅
@new_trader99, I would take profit at a level highly likely to act as support ( double bottom ) if however price breaks and retests again then i will look to short again looking for additional downside that can be seen on the Daily and Weekly TF.