EURCAD - POTENTIAL SHORT ENTRY
EURCAD OUTLOOK
Price is currently ranging in between 1.44000 (resistance) & 1.42800 (support).
Trades within the range is possible via the ‘bounce’ strategy, where shorts can be opened at the resistance.
Should price break out of the resistance of the range, it is expected to move towards the next resistance level at the 1.45000 psychological level.
Should price break out of the support of the range, it is expected to move towards the next support level at the 1.41800 level.
Since price is currently near the resistance of the range, impulse short entries are possible now.
SL will be placed above the resistance,
Final TP will be placed at the support of the range.
R:R ratio 1:3
SELL LIMIT ORDER
E/P: 1.43900
T/P: 1.42860
S/L: 1.44200
Price is currently ranging in between 1.44000 (resistance) & 1.42800 (support).
Trades within the range is possible via the ‘bounce’ strategy, where shorts can be opened at the resistance.
Should price break out of the resistance of the range, it is expected to move towards the next resistance level at the 1.45000 psychological level.
Should price break out of the support of the range, it is expected to move towards the next support level at the 1.41800 level.
Since price is currently near the resistance of the range, impulse short entries are possible now.
SL will be placed above the resistance,
Final TP will be placed at the support of the range.
R:R ratio 1:3
SELL LIMIT ORDER
E/P: 1.43900
T/P: 1.42860
S/L: 1.44200
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