TradingView
Snick3rSD
27 gen 2024 10:33

EURCAD - Confluence for a short position ✅ Short

Euro Fx/Canadian DollarFXCM

Descrizione

Hello traders!
‼️ This is my perspective on EURCAD.

Technical analysis: Here we are in a bearish market structure from 4H timeframe perspective, so I am looking for short. I want price to make a retracement to fill the imbalance higher and then to reject from bearish order block + institutional big figure 1.47000.

Like, comment and subscribe to be in touch with my content!
Commenti
prime1000
The move has gone
Snick3rSD
@prime1000 I wait for another short opportunity from that zone
prime1000
@Snick3rSD Alright, good. Perhaps the EURAUD will present that possibility for you. Given their positive correlation, I believe EURAUD is about to make the same move as EURCAD.

EURCAD:


EURAUD:
Snick3rSD
Great analysis, we could see this move on both charts
prime1000
@Snick3rSD Yeah, we could.
prime1000
@Snick3rSD I believe the bullish trend for AUDCAD will begin next week because it has a relatively negative correlation with both EURAUD and EURCAD. If you look closely, however, it is merely acting in the opposite direction of what EURAUD and EURCAD are doing.

AUDCAD:

Snick3rSD
@prime1000, As well we can see there is a support zone around 0.88400.
prime1000
@Snick3rSD Yes, exactly.
TheFxAce
The way you explain the signs of a market drop is clear and well thought out.
Snick3rSD
@TheFxAce, Thank you! I am glad you understand.
Altro