What do you all think about this setup ? 38 pipes Risking for 85 pipes of reward, if the price move as according we can see EURCAD falling till 1.34800.
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Read the chart thoroughly, let me know your thoughts. Potential up movement is expected from EURCAD since cot data shows eur is up by 10k and cad is down by 3k if this week closes at same conditions then next week this pair can be capitalised. Stay notified for perfect entry next week. All The Best!
Condition:- 1. Price reached monthly/weekly/daily resistance level 2. Price reaching previous demand area 3. Monthly price reached 0.382 Fibonacci level 4. COT - 1. EUR ⬆️ 2. CAD ⬇️ Entry:- 1. All the important prices are labelled in the chart 2. Study the chart precisely 3. Enter on 4hr 4. Enter when MACD and 10&20 ema go down ALL THE BEST!
EURCAD Short Risk/Reward: 1:4 Give a Like and Feel free to share your opinions in the comment! Happy Trading 😊
I can see this as a perfect buy position, This trade can take up to a year to touch the TP