EURCAD Thesis

We can see that price is currently moving in a horizontal channel which then therefore tells us that we are currently in contraption phase which is the first phase of the market which is ranging. We do not want to be trading in the contraption phase so it is best that we sit on our hands till we see price clearly break one of the two zones we have outlined and then when it retests we can look for candlestick or price action patterns which will confirm to us that price is heading in our targeted direction which we can then get a nice entry in with a good Risk:Reward ratio and a high chance that price will go in our favour.

Good luck!
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P.S this is a Speculative setup, not investment advice