EURCAD is staying on support after a brutal down trend. This support has not been broken even with EURO weakness. This makes it a favorite demand zone as no one is willing to sell beyond this point.
Trade idea: Look for a long trade from this support zone as price is ranging between the green (demand zone) and pink (supply zone). Upon reaching the resistance above, reaction can be observed. If range continues, then it will be another potential 100 pip move back down.
Disclaimer: All my trade ideas are for educational / research purpose only and are now investment advice. Forex is a high risk high reward business. Please trade at your own risk.
Trade idea: Look for a long trade from this support zone as price is ranging between the green (demand zone) and pink (supply zone). Upon reaching the resistance above, reaction can be observed. If range continues, then it will be another potential 100 pip move back down.
Disclaimer: All my trade ideas are for educational / research purpose only and are now investment advice. Forex is a high risk high reward business. Please trade at your own risk.
Kommentera:
So the trade is performing really well and the idea was 100% correct. Anyone who has taken this trade from the support should now move their stops to break even and take at least half of their profits. Looks like it has further potential to go up.
Kommentera:
Trade is still valid. Holding on.
Kommentera:
Trade is still very much valid. Strong chances to go all the way up to the resistance. Hold on.
Kommentera:
The trade worked perfectly. We have almost reached the target point (resistance zone, as shown in the chart above). Close your orders now or take at least 80% profit. Stops at break even and let the trade run. But we may expect a bounce from the resistance if price wants to continue within the range.