EURCAD Based on 🔥Thief Trading style technical and fundamental analysis🔥, here is our master plan to heist the EUR/CAD "Euro vs Loonie" Forex Bank. Please adhere to the strategy I've outlined in the chart, which emphasizes short entry. Our aim is the high-risk Green Zone. Risky level, oversold market, consolidation, trend reversal, trap at the level where traders and bullish robbers are stronger. 🏆💸Book Profits Be wealthy and safe trade.💪🏆🎉
Entry 📈 : "The heist is on! Wait for the breakout (1.54200) then make your move - Bearish profits await!" however I advise placing Sell Stop Orders below the breakout MA or Place Sell limit orders within a 15 or 30 minute timeframe. Entry from the most recent or closest low or high level should be in retest. I Highly recommended you to put alert in your chart.
Stop Loss 🛑: Thief SL placed at 1.56000 (swing / Day Trade Basis) Using the 2H period, the recent / swing high or low level. SL is based on your risk of the trade, lot size and how many multiple orders you have to take.
EURCAD Some ideas regarding big players stabbing the pot.
I recalled my years of trading where I thought price is coming down because it looks and is coming down but when I enter, the price reverses and does the stabbing action into a M, or W pattern, double or triple top pattern, and I have no idea why it did what it did.
But now I do.
Maybe the product's supply hasn't been met, or the demand isn't as strong as it seem, or the big boys didnt get their fill and they are trying to get more, by inciting the market to create some reaction so they could buy over the products from the retailers for a cheaper price.
when price shoots up above the 20ema aggressively, price comes back down.
Sometimes it overshots the resistance level, it seems like a coordinated attack, and some firms see the manipulation too and they join in, thus, the manipulation isn't very accurate, sometimes it overshoots.
So, this time round, the price manipulation is being observed again.
The past few rounds of manipulation might have been committed by different people, or different group of people, and sometimes, more than twice, as seen on the chart. That's why the spikes are not clean.
I think price would be coming down.
Besides, the stoch 20,1,1 is overbought, giving a nice confluence that boosts confidence.
Based on the 4-hour chart, here’s a breakdown of the current market structure and potential trade setups:🔍 Chart Pattern: Bullish Pullback or Trend Reversal? -Trend: The market has been in a strong uptrend, with price consistently trading above the 50 EMA (yellow line). -Recent Pullback: The price has retraced slightly after making a higher high, but it is still respecting the 21 EMA (purple line) and 50 EMA (yellow line). -Possible Pattern Formation: -Bullish Flag: If the price consolidates and breaks above 1.5700, we could see continuation to new highs. -Double Top Reversal: If the price fails to break above resistance and drops below 1.5525, the trend might reverse.
📈 Bullish Scenario (Trend Continuation) ✅Entry: Buy on break and close above 1.5700 ✅Stop Loss (SL): Below 1.5620 (recent support) ✅Take Profit (TP): -TP1: 1.5750 -TP2: 1.5800 -TP3: 1.5850 (extended target)
📌Confirmation Needed: -Strong bullish candle closing above 7 EMA & 21 EMA -Volume increase on breakout
📌Confirmation Needed: -Break of 50 EMA with strong bearish momentum -Increased selling volume 🔹Trend is still bullish, but price needs to hold above 21 & 50 EMA for continuation. 🔹Key Level: 1.5700 for bullish breakout OR 1.5525 for bearish reversal. 🔹Wait for confirmation before entering a trade!