Tuesday, March 4, 2014

Eurcad bearish formed

This pair looks good to my eyes with beautiful swinging patterns forming, which started on August 2012 (Zoom back your platform to view). A fall could be imminent ( at least at the short term).

The wave that formed from early January this year formed a bearish reversal candles pattern  at (1.5315-1.5320) , and tested 1.4970-80 briefly before resuming the swing upward to retest (1.5315-20) level.

The formation of a pin bar reversal candle at this level could force this pair to form a double top and drag it back to (1.4970-80) level and if broken could see it going down to 1.4426

On the other side, if the afformentioned pin bar is broken upside with a high momentum, we could see a bullish wave resumption to 1.6 levels.At the moment, I see this pair retesting 1.528s before moving toward 1.497s with stop loss a little pips above the pin bar. 

Trade at your own risk. 

Order  for my trading materials and trade price action spending 1-2 hours daily or mail me @ sanmiadeagbo@yahoo.com 

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