EURCAD BULLISH TREND CONTINUATION
HI TRADERS HOPE YOU ARE DOING WELL. THIS A BULLISH TREND CONTINUATION SETUP FOR THE EURO CANADIAN DOLLAR.
FUNDAMENTAL BIAS:
.WHEN WE LOOK AT THE COMMITMENTS OF TRADERS REPORT THE INSTITUTIONS ARE SHORT ON CANADIAN DOLLAR & LONG ON EURO
TECHNICAL BIAS:
.THE PRICE MADE A FULL CYCLE OF 5 WAVES --> END OF THE BEARISH CYCLE
PRICE ENTRY ZONE:
.TWO DEMANDS ZONES LOCATED AT THE LOW OF THE SUPPLY AND DEMAND CURVE
.THE FIRST ZONE IS AT 61.8 FIBONACCI RETRACEMENT
.THE SECOND ZONE IS LOCATED AT THE BASE OF THE LAST BULLISH IMPULSE WAVE
WARNING:
.THE PRICE DIDN'T CREATED A HIGHER HIGH
.THE PRICE NEVER BROKE OUT OF HIS BEARISH CHANNEL
.PRICE ONLY RETRACED TO THE 50% RETRACEMENT FIBONACCI FROM LAST DAILY TIMEFRAME IMPULSE
THIS COULD BE A NICE SETUP, BUT IT WOULDN'T BE AN A+ SETUP. I WILL LIKELY WAIT FOR THE CREATION OF A HIGHER HIGH BEFORE TAKING THIS TRADE.
CORBEAU
FUNDAMENTAL BIAS:
.WHEN WE LOOK AT THE COMMITMENTS OF TRADERS REPORT THE INSTITUTIONS ARE SHORT ON CANADIAN DOLLAR & LONG ON EURO
TECHNICAL BIAS:
.THE PRICE MADE A FULL CYCLE OF 5 WAVES --> END OF THE BEARISH CYCLE
PRICE ENTRY ZONE:
.TWO DEMANDS ZONES LOCATED AT THE LOW OF THE SUPPLY AND DEMAND CURVE
.THE FIRST ZONE IS AT 61.8 FIBONACCI RETRACEMENT
.THE SECOND ZONE IS LOCATED AT THE BASE OF THE LAST BULLISH IMPULSE WAVE
WARNING:
.THE PRICE DIDN'T CREATED A HIGHER HIGH
.THE PRICE NEVER BROKE OUT OF HIS BEARISH CHANNEL
.PRICE ONLY RETRACED TO THE 50% RETRACEMENT FIBONACCI FROM LAST DAILY TIMEFRAME IMPULSE
THIS COULD BE A NICE SETUP, BUT IT WOULDN'T BE AN A+ SETUP. I WILL LIKELY WAIT FOR THE CREATION OF A HIGHER HIGH BEFORE TAKING THIS TRADE.
CORBEAU
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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.