EUR/CAD developing a channel within the range
Good evening,
EUR/CAD outlook:
- The price just reached the top of this range
- Successfully developing a channel with deep pullbacks
- We have some exhaustion candles on the top but I am not taking this into consideration since the recent move is pretty strong.
- The exhaustion candles reflect this reach
- From the lower time frame ( 4 hour ) we can see the price didn't really breach the resistance from 1.5000. It tried but never held.
If this second attempt fails we can try to short this after a pullback for better risk reward.
- If this does not happen and the price stays above 1.5000 we can keep watching the daily chart for another entries.
Let's start stalking !
Good luck!
EUR/CAD outlook:
- The price just reached the top of this range
- Successfully developing a channel with deep pullbacks
- We have some exhaustion candles on the top but I am not taking this into consideration since the recent move is pretty strong.
- The exhaustion candles reflect this reach
- From the lower time frame ( 4 hour ) we can see the price didn't really breach the resistance from 1.5000. It tried but never held.
If this second attempt fails we can try to short this after a pullback for better risk reward.
- If this does not happen and the price stays above 1.5000 we can keep watching the daily chart for another entries.
Let's start stalking !
Good luck!
Commento:
Anticipating another push towards 1.5100. If it fails again - we can short this with first target - around the trend line or the zone of 1.4800 , depending on how well it goes.
Commento:
This one worked but I am not updating it since I didn't get an opportunity to get it.
It reached the top and then crash.
It reached the top and then crash.