EURCAD Long
Updated
Market Conditions: Uptrend w/ Correction (Continuation of larger trend)
Confirmations:
1) Market Structure:
Impulse + Correction
2) Fibonacci:
50% Reached (1,2 Elliot Wave)
3) Price Pulled Back and Respected 50% fib (Previous S + R/Price Reversal Zone)
4) Continuation Pattern
5) Long term Uptrend (trend is your friend)
Message me if you have any questions :)
Confirmations:
1) Market Structure:
Impulse + Correction
2) Fibonacci:
50% Reached (1,2 Elliot Wave)
3) Price Pulled Back and Respected 50% fib (Previous S + R/Price Reversal Zone)
4) Continuation Pattern
5) Long term Uptrend (trend is your friend)
Message me if you have any questions :)
Note
Ended up being a loss because previous uptrend was broken.Price created a double top, then respected the long term trendline as a new found resistance to continue dropping down.
Using proper risk management we should still be in the positive on pips gained versus loss. Risk to Reward Ratios are Extremely important!
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