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EUR/CAD - Long Trade Idea.
High Probability Setup for a Long Position (In my opinion)
Currently we have been in a solid Bearish Trend since Christmas, price has been forming Lower Lows suggesting Sell positions have been preferred.
On the HTF we see we are currently Bullish and that price is actually currently in a Long Term Pullback stage. To back this statement up at the end of November price had a very large movement to the downside creating a Strong Low. Price begegging of December then pushed back up filling the Imbalances and taking out Liquidity but we did NOT break the previous high.
Although price is below current EMA lines on the Daily Time frame I do believe we will see a large push to the Upside taking out previous Liquidity on this current Bearish Trend. To confirm I would like to see this as a Breakout trade. We have a Trend line on this chart to help us identify a breakout and we can look for Long positions once price actions takes out the most recent 4HR Strong High.
Pink POI level that is on this chart is suggesting an area I have marked to suggest where price likes to respect. This will be the level I look for my long positions after price breaks out of this Bearish Trend.
Bullish Pressure will be starting to show over the course of the next few days suggested by a Large Engulfing Candle Stick and MacD showing us a Bullish Histogram.
Currently we have been in a solid Bearish Trend since Christmas, price has been forming Lower Lows suggesting Sell positions have been preferred.
On the HTF we see we are currently Bullish and that price is actually currently in a Long Term Pullback stage. To back this statement up at the end of November price had a very large movement to the downside creating a Strong Low. Price begegging of December then pushed back up filling the Imbalances and taking out Liquidity but we did NOT break the previous high.
Although price is below current EMA lines on the Daily Time frame I do believe we will see a large push to the Upside taking out previous Liquidity on this current Bearish Trend. To confirm I would like to see this as a Breakout trade. We have a Trend line on this chart to help us identify a breakout and we can look for Long positions once price actions takes out the most recent 4HR Strong High.
Pink POI level that is on this chart is suggesting an area I have marked to suggest where price likes to respect. This will be the level I look for my long positions after price breaks out of this Bearish Trend.
Bullish Pressure will be starting to show over the course of the next few days suggested by a Large Engulfing Candle Stick and MacD showing us a Bullish Histogram.
บันทึก
Prior market closure we have seen a large Bullish push pushing us through our marked out POI and also closing about the previous 4H Strong High. This now makes a very strong ground for price to return too.
Id like to see price make a slow retracement back to claim liquidity before making a leap. I will look for Long trade positions once that retracement has been made
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