hello Trader
what are your thoughts on eurcad.
Enrty: 1.59-1.60
Analysis:
what are your thoughts on eurcad.
Enrty: 1.59-1.60
- stop loss 1.61
- take profit 1.50
Analysis:
- Key Resistance Zone: The red-highlighted area around 1.5800 marks a strong resistance zone where price previously faced rejection.
- Double-Top Formation: A potential double-top pattern is forming, indicating a bearish reversal.
- Bearish Projection: The blue trend lines suggest a downward move after a possible retest of the resistance area.
- Support Levels: The marked horizontal blue lines at 1.5581, 1.5411, 1.5269, 1.5151, and 1.4977 represent key support levels where price might react.
- Target Area: The projected move suggests a decline towards the 1.5151 level, with further downside potential toward 1.4977.
Trade active
300+ pips runingNote
50% of target booked 300 +pips done Trade closed manually
Booked my 50% of target and closed in profits as it reversed king is always on fire 🔥🔥 
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.