EURCAD SHOWING A GOOD UP MOVE WITH 1:10 RISK REWARD EURCAD SHOWING A GOOD UP MOVE WITH 1:10 RISK REWARD
DUE TO THESE REASON
A. its following a rectangle pattern that stocked the market
which preventing the market to move any one direction now it trying to break the strong resistant lable
B. after the break of this rectangle it will boost the market potential for break
C. also its resisting from a strong neckline the neckline also got weeker ald the price is ready to break in the outer region
all of these reason are indicating the same thing its ready for breakout BREAKOUT trading are follws good risk reward
please dont use more than one percentage of your capitalfollow risk reward and tradeing rules
that will help you to to become a bettertrader
thank you
Eurcadforecast
EURCADFX:EURCAD
As you can see that (For MONDAY 17-07-2023), EURCAD has created Double top pattern in 15Min Time frame at the important resistance level. If it breaks the drawn neckline, we can go for sell side and capture some pips. Always go for retest entry to avoid fake Breakouts. Plan your trade accordingly....
EURCAD | Good Shorting Opportunity.If you find this technical analysis useful, please like & share our ideas with the community.
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Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
EURCAD 4HR FORECASTEURCAD Currently in Resistance Zone ..What we can expect.....
1) RED
Price break the resistance level and move downwards for correction and NOW resistance zone act as
Support Zone then GO LONG @ 1.55150
Take Profit @ 1.56280
2) BLUE
Price fails to break resistance and return to Support Zone and then it make a move towards resistance ...
Since it was fresh Zone can GO SHORT @ 1.55010
Take Profit @ 1.54200