Eurcadsell
EURCAD POTENTIAL TREND CONTINATION SETUPHi Traders,
The 4-hour chart of EURCAD shows that the break out of descending wedge that lined up with a key resistance level is a five-wave impulse in wave (a).
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According to Elliot Wave theory, a three-wave correction in the opposite direction follows every impulse pattern before a resumption in the direction of the trend.
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We will wait for the completion of the corrective pattern, which is most likely retested the broken resistance that lined up with 50.0 Fib ratio and moving averages;
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Then look for the breakout of the counter trend line for entry. Price has the potential to move up towards -27.0 Fib Extension to complete wave (c) of 2.
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Safe Trading!
Veejahbee.
we have a short signal for euro/cadtheres a couple things that i learned from the past month of trading.
i first started to journal around December and my trading changed drastically.
a couple of lessons that i learned were
- trust your analysis. : you need to love your ideas, you need to love your mind. fuck what other people say. you see things differently than other people. THERE IS NO RIGHT OR WRONG ANSWER. this is a probability game.
- set realistic targets and be aware of your emotions when you trade.
- trade in a physical environment where you thrive: i make some shitty decisions when i wake up out of bed and completely not in the zone.GET IN THE ZONE. treat yourself and your trading with care.
EURCAD SELLI'm speculating that the price on the EURCAD will drop from this SUPPLY ZONE found on the 5m for at least a 1:2.79 RR. Also, there is a divergence developing with the RSI in relation to price. A Euro report will be announced at 4 AM Eastern Time but it is a low impact report that doesn't concern me.