As commonly known to most, the letter "W" is seen often. Whether this be in reading, or in forex, it's very easy to catch. As we see here on the 4h timeframe, EURCAD has just formed an over-extended W formation; meaning that it went down, then up, then down, then up again.
Often, after this pattern is formed, the currency moves to the downside. I have strong feeling that EURCAD is done moving for now and will make a move downwards also due to my other strategies (which I will not explain much upon) . Use your own due dill if you decide to enter a position. Please remember I am not a financial advisor and this is just my opinion.
Often, after this pattern is formed, the currency moves to the downside. I have strong feeling that EURCAD is done moving for now and will make a move downwards also due to my other strategies (which I will not explain much upon) . Use your own due dill if you decide to enter a position. Please remember I am not a financial advisor and this is just my opinion.
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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.