EURCAD | Perspective for the new week
Updated
Price action has been caught within a descending channel since the month of June and we are not sure if the price is going to continue to respect this downtrend situation or could there be a breakout of the channel to incite a bullish momentum? This video explains how I intend to take advantage of a trading opportunity this week.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Trade active
I am testing the water with half of my normal position size as we anticipate a breakout/retest of the resistance level to hop in the potential rallyGood morning
Trade active
Price action moving as expected as we are witnessing a breakout of the resistance level at 1.31700Stay tuned in as price action is been monitored
Trade active
Price comes back to the entry point, I am taking another position with the hopes that the key level at 1.31100 will hold buying activities.Trade active
We are right on trackGood morning
Trade active
A retest of the resistance level at 1.31700 will welcome opportunities to add to my existing position.Trade closed: target reached
I finally hit my take-profit target.Thank you for being with me through this journey!
Trade active
After enjoying over 120pips in our previous trade on this pair; It appears the current market structure is lining up for another opportunity as we wait for the completion of the retracement phase to join the potential rally.Good night
Comment
Trade active
Reversal pattern identifiedGood morning
Trade closed manually
Set-up negatedTrade active
Trade smart. Trade consciously
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