EURCAD_4th Week of Sept 2021
We have price approaching major trendline and weekly support. This is an area where price repetitively made a significant reversal in past and would anticipate the same thing happen again. Since we wanna to trade with counter trend, we need price to break the trendline and to form HH & HL structure to support our bullish bias
Using simple entry technique
Step 1:
Waiting for the price to break the correction trendline (intraday chart)
Step 2:
Waiting for HH & HL structure (best to look for price to pullback after breakout happen)
Step 3:
Entry point after 2 items above has fully satisfied with SL below the lowest candle. Use any indicator that suits you
* We may consider the price may retest the next level
Using simple entry technique
Step 1:
Waiting for the price to break the correction trendline (intraday chart)
Step 2:
Waiting for HH & HL structure (best to look for price to pullback after breakout happen)
Step 3:
Entry point after 2 items above has fully satisfied with SL below the lowest candle. Use any indicator that suits you
* We may consider the price may retest the next level
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.
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.