Entering a Long EUR/CAD Trade based on Daily Uptrend
Summary:
Weekly Chart Trend: The overall trend on the weekly chart is bullish, indicating a prevailing upward movement in EUR/CAD.
Daily Pivot Point: The daily price has reached a significant pivot point, suggesting a potential area of support/resistance.
4-Hour Chart Bullish Signal: The 4-hour chart shows a robust bullish sign in the form of an engulfing candle, reinforcing the bullish bias.
1-Hour Inverse Head and Shoulders Pattern: The 1-hour chart displays an inverse head and shoulders pattern, a bullish reversal pattern indicating a potential upward move.
Trading Plan:
Waiting for Price Level: We will monitor the price closely and wait for it to reach the significant level indicated by the daily pivot point, which may act as a crucial support/resistance zone.
Retest Confirmation: If the price retests the aforementioned level and holds, it would provide additional confirmation of its importance as a potential entry point.
Long Trade Entry: Once the price shows strength and confirmation at the identified level, we will enter a long position in EUR/CAD.
Weekly Chart Trend: The overall trend on the weekly chart is bullish, indicating a prevailing upward movement in EUR/CAD.
Daily Pivot Point: The daily price has reached a significant pivot point, suggesting a potential area of support/resistance.
4-Hour Chart Bullish Signal: The 4-hour chart shows a robust bullish sign in the form of an engulfing candle, reinforcing the bullish bias.
1-Hour Inverse Head and Shoulders Pattern: The 1-hour chart displays an inverse head and shoulders pattern, a bullish reversal pattern indicating a potential upward move.
Trading Plan:
Waiting for Price Level: We will monitor the price closely and wait for it to reach the significant level indicated by the daily pivot point, which may act as a crucial support/resistance zone.
Retest Confirmation: If the price retests the aforementioned level and holds, it would provide additional confirmation of its importance as a potential entry point.
Long Trade Entry: Once the price shows strength and confirmation at the identified level, we will enter a long position in EUR/CAD.
Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.