EURCAD looking ready for a big move to the upside (10-14 July)
On the weekly: a triple bottom (including a false break).
On the daily: Neutral to bullish. The last 3 weeks we have seen a gradual move up and price has been above the 200dma.
On the H4: Looks bullish. A nice strong move up followed by a range formation. The false break below confirms my bullish bias.
If, however, we get a close below 1.4470 that would negate my analysis.
Obviously, I want a lower entry. Will it be at the range bottom or at the support in the 1.4500 area or at the major support at 1.4470 area? I have no idea – I am not in the prediction business, I am trying to read price action and act when I sense that the odds are in my favor.
There is room for large gains herein the long term, perhaps until the 1.51’s, but for now I am looking to target the 1.4620 and 1.4740 regions.
Nothing is 100% in trading, so as always, use sound money and risk management and stay patient in all your trades. If you like my content, please give it a “thumbs up” and follow me to get even more.
What do you think about this trade idea? Please comment and share your thoughts!!
On the daily: Neutral to bullish. The last 3 weeks we have seen a gradual move up and price has been above the 200dma.
On the H4: Looks bullish. A nice strong move up followed by a range formation. The false break below confirms my bullish bias.
If, however, we get a close below 1.4470 that would negate my analysis.
Obviously, I want a lower entry. Will it be at the range bottom or at the support in the 1.4500 area or at the major support at 1.4470 area? I have no idea – I am not in the prediction business, I am trying to read price action and act when I sense that the odds are in my favor.
There is room for large gains herein the long term, perhaps until the 1.51’s, but for now I am looking to target the 1.4620 and 1.4740 regions.
Nothing is 100% in trading, so as always, use sound money and risk management and stay patient in all your trades. If you like my content, please give it a “thumbs up” and follow me to get even more.
What do you think about this trade idea? Please comment and share your thoughts!!