EURCAD Peace and PIPS!Pay attention to this value, is now giving us a short entry to retest the downtrend and to arrive to the 38% of fibo after the big rise, we need to be focused with the accumulation in the monthly before the entry so wait the confirmation.
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Eurcadsell
Will EURCAD Drop next week?In my previous EURCAD idea, I mentioned about buying near 1.43 with final TP at 1.47. We already got 400 pip profit from our Buy trade(check idea attached below). In this idea, I will present a potential sell set-up that can give us a decent profit if it works.
First of all, the rally in EURCAD has been massive. I expected a bullish run towards 1.47 as I mentioned in my previous idea but I didn't expect it to be so quick.
Dramatic sell off in Wall street has lead to a huge surge in this pair. As CAD is a risk asset correlated with Oil, CAD's value drops very quickly during such sell offs in the stock market.
That being said, I feel the sell-off in the market is going to have a pullback next week which might give us an opportunity to sell EURCAD.
Today's daily candle in EURCAD has almost been reduced to a pinbar, which means sellers took control and buyers gave up all the gains.
So, if price doesn't break 1.4880 in the next week, we can expect a drop towards at least 1.45.
I will update this idea. So make sure you follow me to know about the exact entry.
EURCAD, SCALPER and SWING entries!I will explain now the first entry (the scalper one) we have a lot of confluences in this analysis that the value needs a retest before the big increase: 1st, the value needs a accumulation in the daily KL, 2nd: The retest in the downtrend, 3rd: the chinesse candles says to us that the value will fall, 4th: We also need a retest in fibo, at least in 38%, 5th: EXY stays really strong in this moment, but it's starting to stabilitzate, so it's a good moment to sell.
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EURCAD positioning for SHORT ENTRYEURCAD is now doing what be said some days before, the operation we gived it's now on 160 pips in profit for our crew and we expect 40/50 pips more. Returning to the analysis, in this moment the value is surpassing a monthly KL so there are two possible scenes, the accumulation now to fall or the second one and what we expect: the retest in the supply, retesting at 50% of fibo in 4H and the posterior fall.
In both cases, we will wait for the confirmation and after this confirmation we can go in, good luck and enjoy the pips!!
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EURCAD SHORT EURCAD shorts are looking good to go. Lets get ready for a retracement up to the purple box area with a 4 hour body closure as a doji or spinning top to confirm our bias of taking shorts from here. EURCAD has respected the 78.6% Fib level indicating the bears are still in control, lets just sit back and wait to see if it can pullback to the area of interested and see if it rejects before we jump into this trade!
Remember to take partial profits at the 0%, -20% and finally the -61.8% :0
455 PIP gain 7/1 RR.
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EURCAD - FOREX - 30. JAN. 2020Welcome to our weekly trade setup ( EURCAD )!
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1 HOUR
Bullish break above previous H1 Highs.
4 HOUR
Prices came back to previous resistance zone.
DAILY
Bearish market in a pullback, great short entries!
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FOREX SETUP
SELL EURCAD
ENTRY LEVEL @ 1.45770
SL @ 1.46300
TP @ 1.44720
RR: 2.0
Use 0.5% risk!
(Remember to add a few pips to all levels - different Brokers!)
Leave us a comment or like to keep our content for free and alive.
Have a great week everyone!
ALAN
EURCAD - FOREX - 14. JAN. 2020Welcome to our weekly trade setup ( EURCAD )!
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1 HOUR
Bullish price action and break above shortterm range.
4 HOUR
Overall very bearish market structure and waves.
DAILY
Good short entries after a small fear push to the upside.
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FOREX SETUP
SELL EURCAD
ENTRY LEVEL @ 1.45540
SL @ 1.45940
TP @ 1.44740
RR: 1.1 / 2.35
Use 0.5% risk per Entry!
(Remember to add a few pips to all levels - different Brokers!)
Leave us a comment or like to keep our content for free and alive.
Have a great week everyone!
ALAN
EURCAD Market Outlook | Daily Forex Market BreakdownEURCAD
Nice push to the upside looking good. If we can maintain bullish momentum then we may sustain outside of the previous broken consolidation. We need to be cautious for fakeouts. It would be nice to see a clean pullback and see previous resistance hold as support.
EURCAD TO SELL AFTER PULL BACK!At the moment, EURCAD is moving towards point of support to potentially form a 'double bottom' . from this point on, i see price retracing at least 50% of the bearish move before trading lower to our targets. Having said that, price is showing the potential to move to our targets without a pullback.
Only take the trade if price pullbacks to our entry as this allows for a risk to reward ratio. Close majority of the position at take profit one and move stop loss past entry point and let the rest ride out risk free.
Do not trade the pullback, wait to enter the real move.