Euro /Đô la CanadaGiá lên
ABCD and a probably bullish wedge
Hello traders,
After looking at the recent price action and the new found strength in the EUR, I believe it is time to look for further action with EUR pairs. Currently, I see a bullish ABCD pattern in play and the target for this is just above a trend line I have shown above. Now, whether this pattern goes on to form a classic wedge or not is something to be seen. But currently, there are a lot of signs for a continuation of the upward move at least to 1.4335 area.
The only problem however is, if entering long now, it may be tricky to find a good S/L.
However, looking at the swift AB leg, we could safely say that a prolonged consolidation around current level is not logical. Hence, I would place a S./L below yesterday's lows.
SELL EUR/CAD @ current price. S/L @ 1.4095 and T/P 1.4335
That is about 80 pips of S/L to 170 pips T/P. I believe that is a decent ratio to trade.
Happy trading and happy pipping!
After looking at the recent price action and the new found strength in the EUR, I believe it is time to look for further action with EUR pairs. Currently, I see a bullish ABCD pattern in play and the target for this is just above a trend line I have shown above. Now, whether this pattern goes on to form a classic wedge or not is something to be seen. But currently, there are a lot of signs for a continuation of the upward move at least to 1.4335 area.
The only problem however is, if entering long now, it may be tricky to find a good S/L.
However, looking at the swift AB leg, we could safely say that a prolonged consolidation around current level is not logical. Hence, I would place a S./L below yesterday's lows.
SELL EUR/CAD @ current price. S/L @ 1.4095 and T/P 1.4335
That is about 80 pips of S/L to 170 pips T/P. I believe that is a decent ratio to trade.
Happy trading and happy pipping!
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.