EURCAD Trying to Establish Higher Support
Finding support will be important for a push back toward the highs.
The reward to risk appears fine if you can hold the trade until they
retest the highs. Consider the upside bias and allow for the market
to base out and reverse before entering for those taking caution. For
the aggressive trader, the current entry allows for a tight stop just
beneath the lows. Swing traders will want to wait for confirmation.
Also notice the support at 1.4781
The reward to risk appears fine if you can hold the trade until they
retest the highs. Consider the upside bias and allow for the market
to base out and reverse before entering for those taking caution. For
the aggressive trader, the current entry allows for a tight stop just
beneath the lows. Swing traders will want to wait for confirmation.
Also notice the support at 1.4781
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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.