EURCAD is setting up to go long nicely, retraced upto 0.5 Fib level. It seems a high probable trade which scoring following 7 points.
1. Higher High & Higher Low
2. Above 50 & 200 EMAs
3. Horizontal Support (1.34 Level)
4. RSI Convergence
5. Bullish Price Action (High Test)
6. No Resistance in the Way
7. FiB Retracement Level (Support at 0.5 Retracement Level)
There is no hard level in the way apart from a soft level of 1.3523 (previous high), which looking at it conservatively still makes makes it a 1.7:1. Assuming a profit potential till 1.3610 makes it nearly a 3:1.
Hight test bar is Bearish price action, not Bullish
ReplyDeleteThe yesterday's bar is low test, which makes this trade valid, good one Cris
ReplyDeletehmmmm trade ended in lost due to volatility of Positive French Manufacturing PMI (which took entry) & Negative German Manufacturing PMI (which hit the stop loss).
ReplyDeleteMy entry was 1.3437 while esignal just shows the highest point 1.3436 but still ETX Capital got me in the trade ... unlucky :(
I just checked with ETX Capital, in daily chart on today's bar high, Mid Price is 1.3435 while Bid price is 1.3431 & Ask price is 1.3439 Beacuse we were long they triggered our trade using Asking price .... better luck next time :)
ReplyDelete