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Smctrading

EURCAD Resistance Rejection - Weekly / Daily / 4H EntryHello Everyone, hope you are doing fine. This analysis is About EURCAD and possible Movement to the downside As we see we had a fakeout to the Upside on a huge resistance Level but we don't have enough momentum to break the resistance so the sellers pushes all the way then we identify a break of structure or Change of Caractére 4H that were the idea came to short EURCAD + the indecicif candlestick and left some gaps and the movement of the pair obviously
Short
by BlackWatch01
EUR/USD ShortIn the recent drop we can clearly see an OrderBlock form with plenty of Imbalance which price is currently pushing up to fill, The reason this candle sticks out to me as an OB is because it's the last candle up which is swiping buyside liquidity before a huge drop, The purple box in the OB represents a slight bit of imbalance which lines up nicely with 50% of the candle, What I'll be looking for around this area? Personally for me to enter this trade I would like to see a clear CHoCH on lower time frames with a nice pull back to fill any imbalance created by the CHoCH I will be watching price as it reaches this level and will not be setting a sell limit, and will only enter the trade if it meets my confirmations My Take Profit levels will be previous lows and any imbalance left by the market CHoCH = Change of character OB = Order block Please remember this is a trade idea and my personal view on the market, Please do your own analysis before entering and use correct risk management, no more than you can afford to lose. Enter at your own risk This is my first post so let me know how i did and anything else you'd like to see Thanks :)
Short
by Brxndon_18