EURCAD SHORT
ECAD has pulled back 50% on the daily tf, leaving some wicks to the upside, showing buyers exhaustion. Also, it is currently on a very strong resistance/support zone shown by teal ellipses. High price reversal zone. On 4H time frame, is forming a double top or the beginning of an inverted H&S. Either way, many confluences showing high probability of more downside movement.
Entry Price: 1.5150-1.5160
SL: 1.5205
TP1: 1.5097
TP2: 1.4993
TP3: 1.4896
TP4: 1.4610 (Swing)
Entry Price: 1.5150-1.5160
SL: 1.5205
TP1: 1.5097
TP2: 1.4993
TP3: 1.4896
TP4: 1.4610 (Swing)
Trade closed: target reached
Take Profit 1 HIT! +50 pips. Move stop loss to break even and let it ride. Risk free trade.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.