This Is My Analysis On EUR/CAD
(You Shouldn't Be In This Trade Until After News Monday Or Place A Buy Stop)
So EURCAD Left Off On A Good Note Friday Buying For Almost 300 Pips In A Day
Price Broke 4 Hour Resistance Tested And Went Long
Im Expecting Price To Either Test Moving Averages, Fib Level Or 4 Hour Resistance Which Was Broken Which Turned Into Support Before Buying Long
If You Look Left At The White Box Where Price Is Now.... Price Broke That Structure So When Price Breaks A Structure It Always Have To Make A HL So You Could Wait Until Price Makes A High Low Towards That H4 Support Or You Can Place A Buy Stop Above (White Horizontal Line) And Watch It Play Out In Your Favor
Economic Side Of Things (EUR) Banks Are Long And The (CAD) Banks Are Short
So I Will Be Looking For Only Buys As Well
This Is My Own Opinion So You Don't Have To Take This Trade Use Proper Risk Management
(You Shouldn't Be In This Trade Until After News Monday Or Place A Buy Stop)
So EURCAD Left Off On A Good Note Friday Buying For Almost 300 Pips In A Day
Price Broke 4 Hour Resistance Tested And Went Long
Im Expecting Price To Either Test Moving Averages, Fib Level Or 4 Hour Resistance Which Was Broken Which Turned Into Support Before Buying Long
If You Look Left At The White Box Where Price Is Now.... Price Broke That Structure So When Price Breaks A Structure It Always Have To Make A HL So You Could Wait Until Price Makes A High Low Towards That H4 Support Or You Can Place A Buy Stop Above (White Horizontal Line) And Watch It Play Out In Your Favor
Economic Side Of Things (EUR) Banks Are Long And The (CAD) Banks Are Short
So I Will Be Looking For Only Buys As Well
This Is My Own Opinion So You Don't Have To Take This Trade Use Proper Risk Management