EURCAD | Perspective for the new week

已更新

Price action has been caught within a descending channel since the month of June and we are not sure if the price is going to continue to respect this downtrend situation or could there be a breakout of the channel to incite a bullish momentum? This video explains how I intend to take advantage of a trading opportunity this week.

Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.

交易开始

I am testing the water with half of my normal position size as we anticipate a breakout/retest of the resistance level to hop in the potential rally

Good morning

交易开始

Price action moving as expected as we are witnessing a breakout of the resistance level at 1.31700

Stay tuned in as price action is been monitored

交易开始

Price comes back to the entry point, I am taking another position with the hopes that the key level at 1.31100 will hold buying activities.

交易开始

We are right on track

Good morning

交易开始

A retest of the resistance level at 1.31700 will welcome opportunities to add to my existing position.

交易结束：到达目标

I finally hit my take-profit target.

Thank you for being with me through this journey!

交易开始

After enjoying over 120pips in our previous trade on this pair; It appears the current market structure is lining up for another opportunity as we wait for the completion of the retracement phase to join the potential rally.