ECAD TO THE DOWNSIDE!!!As investors await the NFP data in 2 hours time, i'm expecting ECAD to close this week below last week's low and forming a new low below 1.134400.
Ecad
lets have a look on eur cadI see lot of bullish ecad trading ideas recently, that are still considering price to further rise due to a tiny outbreak we saw into friday close, first of all i have to say i have not send any ecad trades yet, but i want to add some doubts
to a rising ecad, i am expecting ecad to be slightly more bullish than ucad, as im still bullish on eu, but overall i see a solid bearish structure on ecad while eu is rising since early november.
But lets stick to the chart on this, ecad is coming now into heavy horizonal resistance while developing momentum to the downside on the bigger timeframes, indicators show a short-term overstretched bullish momentum,
I see more tendency to the downside on this one.
I will personally not take this trade though and just watch.
POSSIBLE DROP EURCAD
Bearish mode coming soon. Don't miss this opportunity.
Sell, SL around 30 pips,
Target profit in 120 pips.
Worth to take the risk :)
TAYOR
ECAD LONGmonthly, weekly and daily EMA 200 is in support. Now price is currently on 1.52100 that is weekly support zone. it might forming H&S and it could break weekly support and test the daily support at 1.51200. there is also trendline. so we need to wait what will happen to the trendline. so if trendline is broken we will wait for retest and short the pair
TJ#10 - Head and shoulderI re-entry, after trailing stop with the big black candle,
I think it has a chance of head and shoulder pattern.
The TP is at the high of daily chart.
TJ#7 - Buy with pullback and break rangeI buy with pull back and break range.
Assume it will make the ABC pattern. with fibo 100% TP (AB=CD, 123 pattern) = resistant area
Potential Long setupThis Setup use the following confirmation.
1. Fibonacci 50% Reversal (@ 1.4000) ( On follow up monthly Chart )
2. Use round number expectation for strong support (@ 1.4000)
3. Use previous range bound between RED arrow and GREEN arrow.
Setup Configuration ::
This number come from strong physiological price number, Fibonacci support and previous daily spike
This number come from pike above 1.400 with a few extra pip as point out in chart.
This number come from previous bigger range. (will follow up on monthly chart)
This number is expecting when Fibonacci of 50% (@1.4000) is hold and revert to up side.
