EurCad Bearish Bias Multi Scenario (check weekly)
Two scenarios first is explained on the chat,
the second short scenario would be a clear break of that consolidation zone and trend line
bias this week is bearish because of the weekly doji and weakening euro since the start of 2019
risk reward ratio is nice, 14ema is below 50ema on 1h tf confluence with the short bias
why i expect it to go up first is because the daily doji is bullish but bull signals in bear trend "unless its engulfing" tend to not work so great
IF it does break that support there it will fill the space below and can turn into a larger trade than it already is
buuuut i could be completely wrong so trade what u see not what u think just good to have an idea in mind
~ happy trading
the second short scenario would be a clear break of that consolidation zone and trend line
bias this week is bearish because of the weekly doji and weakening euro since the start of 2019
risk reward ratio is nice, 14ema is below 50ema on 1h tf confluence with the short bias
why i expect it to go up first is because the daily doji is bullish but bull signals in bear trend "unless its engulfing" tend to not work so great
IF it does break that support there it will fill the space below and can turn into a larger trade than it already is
buuuut i could be completely wrong so trade what u see not what u think just good to have an idea in mind
~ happy trading
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