Short opportunity here on the EURCAD with bias!
Hi guys we completed our bearish shark pattern just he market closed last week. With that we have a short opportunity here. There could be a change of trend. As if you're going to jump into the hour 1 or hour 4 TF a visible bearish divergence is already forming.
Aggressive can take short already at the pattern completion while conservative can wait for further confirmation or signal to go short. I usually trade the shark pattern with a 1:1 Risk:Reward. Pips target to TP 1 and entry to the Stop loss. But if there could be a reversal already. You can manage your stops with minimal risk atleast. With that I could see the CAD monetary value will appreciate as I can see a potential reversal/selling pressure on the USDCAD as well.
TP1: 1.4148
TP2: 1.4000
Aggressive can take short already at the pattern completion while conservative can wait for further confirmation or signal to go short. I usually trade the shark pattern with a 1:1 Risk:Reward. Pips target to TP 1 and entry to the Stop loss. But if there could be a reversal already. You can manage your stops with minimal risk atleast. With that I could see the CAD monetary value will appreciate as I can see a potential reversal/selling pressure on the USDCAD as well.
TP1: 1.4148
TP2: 1.4000
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On the daily outlook.
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A daily candle close with a good pinbar candle may be a good opportunity to go SHORT. Stops would be above the candle 10-20 pips allowance.
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We are halfway to TP 1.
