I like a short on EURCAD based on the criteria on the chart.
If it rises, I would like to sell between 50% - 61.8% retracement from the down move (look for bearish candle stick formations at that level) or lower level trend line breaks.
SL will need to go above the high of the entire move.
If it drops and breaks the channel and the channel low, then I will wait for a retracement to the backside of the trend line and then look for short signals
In this case, the SL will go above the channel high.
Target is 127% and 161.8% Fib extensions. I believe we will fill the french election gap soon.
Happy Trading.
If it rises, I would like to sell between 50% - 61.8% retracement from the down move (look for bearish candle stick formations at that level) or lower level trend line breaks.
SL will need to go above the high of the entire move.
If it drops and breaks the channel and the channel low, then I will wait for a retracement to the backside of the trend line and then look for short signals
In this case, the SL will go above the channel high.
Target is 127% and 161.8% Fib extensions. I believe we will fill the french election gap soon.
Happy Trading.