What I'm Looking For on the EURCAD
There are quite a few ways this chart can go. Right now I am looking for a close below the nearest structure at 1.4551. If the price puts in a lower close I will put two short orders in and sell at two lower support levels. I will also be trailing my stop. Looking forward a little into the future, if the price hits the .786 retracement I will be looking to put in 2 long orders and close at the two resistance levels shown. If none of these trades happen and the price continues upward and makes a higher high, I will be looking for a .786 trend continuation trade.
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