Eurcadlong
EURCAD A1 Long C Grade (Idea)Another trade today with the same problems we saw earlier and have been seeing throughout this week. These problems being inside the asia range and having an over extended entry candle. This has saved me money countless times to avoid these trades and I will continue to do so.
Wait for buy signal in the asending channel with EURCADH2 time frame.
Structure: Ascending channel.
The price is currently at the confluence between the uptrend line and the support at 1.48600.
Waiting for the price to confirm the bullish signal, it is possible to enter a buy order to continue with the ascending channel of EURCAD.
The profit target is the 1,50000 zone.
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Wish you all have a good trading day!
Buy EURCAD - 280+ PIP - Low Risk - Good Risk:Reward ratioEURCAD has now a candle closed (4H TF) at the bottom of the bullish trend. As we have anticipated previously, a long entry would be appropriate now with a good R:W.
TP1: 1.5038 (180+ PIP)
TP2: 1.5167 (280+ PIP)
SL1: 1.4760
SL2: 1.4822
Long-term outlook: In weekly timeframe I'm seeing a XABCD setup having the price currently at C location. Therefore, EURCAD is expected to rise up to 1.64 in long-term.
NOTE 1: Use low leverage.
NOTE 2: Be careful with your SL. SL hunters are watching you 😉