Rising wedge - SellTrend - Short
Nature - Corrective phase
Pattern - Rising Wedge
SL - 50 pips
R:R - 1:5
Rising wedge pattern is suggestive of a reversal in trend. Bearish move forecasted
EUXCAD trade ideas
Don't miss the great buy opportunity in EURCADTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.5435). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURCAD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 75.
Take Profits:
TP1= @ 1.5535
TP2= @ 1.5585
TP3= @ 1.5710
TP4= @ 1.5815
TP5= @ 1.5990
SL= Break below S2
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Don't miss the great buy opportunity in EURCADTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.5253). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURCAD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 67.
Take Profits:
TP1= @ 1.5326
TP2= @ 1.5393
TP3= @ 1.5448
SL= Break below S2
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. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated! ❤️
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Now, It's your turn !
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Trade well, ❤️
ForecastCity English Support Team ❤️
CADEUR here as wellWe have two paces here and we have more chances to be saved, and be between the people who are in the trade!
EURCAD Symmetrical Tingle patternEURCAD Symmetrical Tingle pattern, wait for breakout to take entry.
Don't miss the great buy opportunity in EURCADTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.5192). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURCAD is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 68.
Take Profits:
TP1= @ 1.5246
TP2= @ 1.5305
TP3= @ 1.5432
SL= Break below S2
EUR CAD DEMAND SUPPLY LONGIts a aggressive and counter trend trade. So, Type 3 trade only. That, To execute this trade you have to be before the screen and see that price is leaving the zone .thats s when you have to take this trade. if the price pierces through the zone, no trade is to be taken
Don't miss the great buy opportunity in EURCADTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.5218). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURCAD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 49.
Take Profits:
TP1= @ 1.5340
TP2= @ 1.5490
TP3= @ 1.5650
SL= Break below S2
There is a possibility for second chance to buy in EURCADTrading suggestion:
If the Midterm level 1.5050 is broken, we will close open trades.
Price may also reach 1.5050, if price reaches this level, there is a second chance to get more profit and reinvest by Daily-Trading-Opportunities signals. This suggestion is not according to OUR STRATEGY , and depends on personal strategies.
Midterm forecast:
While the price is above the support 1.5050, resumption of uptrend is expected.
We make sure when the resistance at 1.5990 breaks.
If the support at 1.5050 is broken, the short-term forecast -resumption of uptrend- will be invalid.
We will close our open trades, if the Midterm level 1.5050 is broken.
Technical analysis:
A trough is formed in daily chart at 1.5050 on 04/30/2020, so more gains to resistance(s) 1.5640, 1.5815 and maximum to Major Resistance (1.5990) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 57.
Trade Setup:
We opened 7 BUY trade(s) @ 1.4798 (day close price) based on 'Valley' at 2019.08.23 signaled by our Daily Trading Opportunity :
Total Profit: 3457 pip
Closed trade(s): 2115 pip Profit
Open trade(s): 1342 pip Profit
Closed Profit:
TP1 @ 1.4860 touched at 2020.02.28 with 62 pip Profit.
TP2 @ 1.4970 touched at 2020.03.03 with 172 pip Profit.
TP3 @ 1.5195 touched at 2020.03.06 with 397 pip Profit.
TP4 @ 1.5440 touched at 2020.03.09 with 642 pip Profit.
TP5 @ 1.5640 touched at 2020.03.09 with 842 pip Profit.
62 + 172 + 397 + 642 + 842 = 2115 pip
Open Profit:
Profit for one trade is 1.5469(current price) - 1.4798(open price) = 671 pip
2 trade(s) still open, therefore total profit for open trade(s) is 671 x 2 = 1342 pip
