EURCAD: Trend-Following Trading Plan 🇪🇺🇨🇦

24 нояб. 2021 г.

As you remember, we are very bearish biased on EURCAD.
The pair is trading in a global bearish trend and recently it set a new lower low lower close on a daily.

After a pullback, the price tested 618 retracement of the last bearish impulse.
Double top formation was formed.

Your trigger to sell will be a bearish breakout of 1.4235 - 1.4255 horizontal neckline.
You need at least 4H candle close below that to confirm its breakout.

Then shorting on a retest your may catch a nice swing trade with initial goal being 1.41 level.

In case of a new higher high higher close formation on 4H, the setup will be invalid.

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