Dynamic Trader Forex Blog FXCPS.co.uk: EURCAD

Good Evening / Morning Dynamic Traders

"Better to have tried and failed, than not tried at all"

Cross = EURCAD: Day & 60min Chart (Posted Below)

Swing traders will have entered this trade on or shortly after my initial post , and be in plenty of pips as I write. With your stop above the recent high , we have enough breathing space for price to move and you may have already achieved TP1.

The day chart looks very nice, maybe too nice, remember the market is ALWAYS right. We have seen price touch a trend line and show a reverse pattern on the candles, and indicators point towards a change of direction.

The 60min chart may give us an idea of what is happening at the coal face.

You will see we have had 3 lower lows of late, with the VI playing a major role supporting price. We have tried to break through on the last 3 occasions, will the 4th push through and use support as resistance ?

Swing traders will be a lot more relaxed on this one than the day traders due to the amount of noise it makes intraday. Enjoy the ride.

Courtesy of Advanced Get / E Signal

Trade with Passion

John Maher
Forex Analyst