Market Commentary: SELL EURCAD

sarfarajpatel

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SELL EURCAD Entry 1.4348 TP 1.4268 SL 1.4388

Market Commentary:
Stop =~ 40 pips
Target =~ 80 pips
Risk / Reward =~ 2.0

- This is a trade OPPORTUNITY (Some but not all criteria is met)
- Based purely on Technical Ananlysis
- Entry and Stop may differ from above depending when/if criteria is met
- Generous risk reward

1. 2 retests of 200EMA on H1 chart
2. Losing momentum on H1 chart (smaller green candles)
3. Squeeze shaded on H1 chart, MACD crossover due
4. Pull back to 0.786 Fibonacci retracement level
5. BCR in progress of 50EMA on 4H
6. BCR in progress of 21EMA on Daily
7. Squeeze, MACD and Weis Wave onside on Daily and Weekly (trend confirmed)

Waiting for...

1. A break AND close below 8EMA on H1
2 (Optional) Shaded squeeze on 4H
3. Daily close below 8EMA

Don't take if...

1. Daily candle closes above 8EMA


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eurcad 24-2.jpg
 
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