Hello traders. Here on the EURCAD, I'm going to be using two simple concepts i.e Trend following + Valid POI.
Using these we can see that this market is constantly making Swing high points. But here's the twist- we're currently at ta higher timeframe level from which we can see bearish reversal but the rule as trend traders is to trade the trend till it bends. Hence, the possibility of longs out of the POI, ONLY UPON CONFIRMATION.
If we get a break of the bullish structure at that zone, then it's an indication of coming bearish wave to the downside. This means we will not be acting on this analysis until the market gives an extra layer of confirmation .
Stay Reactive.
What do you think ?
Using these we can see that this market is constantly making Swing high points. But here's the twist- we're currently at ta higher timeframe level from which we can see bearish reversal but the rule as trend traders is to trade the trend till it bends. Hence, the possibility of longs out of the POI, ONLY UPON CONFIRMATION.
If we get a break of the bullish structure at that zone, then it's an indication of coming bearish wave to the downside. This means we will not be acting on this analysis until the market gives an extra layer of confirmation .
Stay Reactive.
What do you think ?
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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.
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.