EURCAD(Long)Turtle soup Trading Strategy
The Turtle Soup strategy, however, flips the script, aiming to profit when those anticipated trend.Linda Raschke’s Turtle Soup strategy is a counter-trend trading approach that capitalizes on failed breakouts.
It takes inspiration from the famous Turtles trading experiment, where novices were trained on a trend-following system.
EURCAD trade ideas
EURCAD LongTrend and Context:
Overall Trend: The chart shows a bullish trend on the 4-hour timeframe for EUR/CAD. The price has been making higher highs and higher lows, and it is trading above the 50-period SMA (1.50285) and the 200-period SMA (1.48860), which reinforces the bullish bias.
Key Levels:
Support: The closest support level is just above 1.50691, around the lower trendline that has formed within the wedge pattern. This level also coincides with the 50-period SMA, adding to its strength as a potential support area.
Resistance: The target resistance level is around 1.52012, marking a potential take-profit zone. This level represents a previous swing high.
Technical :
Symmetrical Triangle Breakout: The chart shows a symmetrical triangle pattern forming over the last few sessions. The price is breaking above the upper trendline of the triangle, signaling a potential bullish breakout. This breakout indicates the continuation of the broader uptrend.
Moving Averages: The price is comfortably above both the 50-period and 200-period SMAs, signaling that the market is in a strong uptrend and the momentum is positive.
EURCAD - Trading The Wedge...Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 EURCAD has been overall bullish , trading inside the rising wedge pattern in orange.
At present, EURCAD is undergoing a correction phase and it is hovering around the lower bound of the wedge.
Moreover, it is retesting a massive demand zone marked in blue.
🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the blue demand and lower orange trendline acting as a non-horizontal support.
📚 As per my trading style:
As #EURCAD is hovering around the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
EURCAD Technical Analysis and Trade Idea👀👉 Our focus is on the EURCAD currency pair, which has exhibited bullish momentum on the 4-hour timeframe. However, as the price has reached a resistance level, we anticipate a potential pullback to the Fibonacci 50% to 61.8% retracement levels.
Our analysis encompasses key elements of technical analysis, including trend assessment, price action evaluation, and market structure examination. We'll also present a potential trade setup and, crucially, discuss strategies to approach it with an increased probability of success.
It's imperative to note that this analysis is provided for educational purposes only and should not be construed as financial advice. The insights offered are speculative and do not guarantee future market behavior. We strongly advise verifying current price actions before executing any trades.
This presentation offers an in-depth examination of the current trend, market structure, and price movements. However, it's crucial to understand that while this content aims to be educational, it does not ensure trading success. The foreign exchange market carries significant risks, and we strongly emphasize the importance of implementing robust risk management strategies in all trading activities.
Please understand that thorough research and careful consideration should precede any trading decisions. Stay informed, remain vigilant, and approach the markets with a well-prepared strategy. 📊✅
EURCAD1.EURCAD has been inside of the Triangle, showing a series of interest reactional zones from Both Support and Resistance trendline.
2.The moment the price reacted on a Trendline, its either it dropped/it rose.
3.It in cade, the price is reacted from a declining resistance trendline, which marks our entry for Sells.
4.We sell EURCAD
EURCAD Possible Short Position BBMA OA ReEntry Zone Zero Loss4H - Re-Entry
1H - 50 EMA Rejection + Bollinger Band
Rejection
15m - Entry in MAHI
Note:
* Cancel trade or cut-loss when candle close Above MAHI (2 Green Color Lines) in 4H and wait for possible reentry again
* 1:3 RRR
* TAYOR
A combination of multiple moving averages and Bollinger Bands is the BBMA OMA Ally strategy. It provides an extensive and reliable examination of market trends and patterns by utilizing the strength of both indicators. It is a multi-time frame analysis
I am using the BBMA OA Reentry Zone Zero Loss Strategy as a basic reaction to recent market events, rather than attempting to forecast the market's future course