EURCAD @ Fib 0.5
Updated
After a significant rise, it seems that now is the time for a correction, supported by the candle shape which is starting to shrink.
A correction can be confirmed if the H4 candle shows a bearish candle and breaks the mother candle.
Sell Stop: 1.47391
SL: 1.47671 (28 pips)
TP: 1.46691 (+2.5)
A correction can be confirmed if the H4 candle shows a bearish candle and breaks the mother candle.
Sell Stop: 1.47391
SL: 1.47671 (28 pips)
TP: 1.46691 (+2.5)
Note
Move SL: 1.47111 (+1)
I see some rejection, the price could rise again in the support area,
and if measured with Fibonacci, there is a 0.618 ratio there,
even though our main target is for the price to close the gap.
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.