📊 Let's dive deeper into the analysis of the EURCAD forex pair for future trading.
🚀 In the four-hour timeframe, this currency pair has convincingly broken out of an accumulation zone and formed a strong parabolic uptrend, reaching the daily resistance level.
💰 Following a corrective phase in this uptrend and the establishment of a new market structure, we can identify potential entry points as outlined below:
📉 For long positions, our initial trigger occurs with the break of the red trendline, serving as our early signal. Subsequent long entries can be considered after the breach of the 1.47720 level, confirmed by candlestick patterns. 📈📉
⚠️ For short positions, a more aggressive approach can be adopted. In the event of a trend reversal, we may initiate a short position upon the break of the 4-hour support line at 1.47188, in conjunction with pattern adjustments and a parabolic downtrend.
💼 Also, today is the last day of the market and it will be closed, pay attention to the fluctuations of the weekend
🔍Feel free to engage by commenting and sharing your preferred currency pair for analysis.
💼 Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
🚀 In the four-hour timeframe, this currency pair has convincingly broken out of an accumulation zone and formed a strong parabolic uptrend, reaching the daily resistance level.
💰 Following a corrective phase in this uptrend and the establishment of a new market structure, we can identify potential entry points as outlined below:
📉 For long positions, our initial trigger occurs with the break of the red trendline, serving as our early signal. Subsequent long entries can be considered after the breach of the 1.47720 level, confirmed by candlestick patterns. 📈📉
⚠️ For short positions, a more aggressive approach can be adopted. In the event of a trend reversal, we may initiate a short position upon the break of the 4-hour support line at 1.47188, in conjunction with pattern adjustments and a parabolic downtrend.
💼 Also, today is the last day of the market and it will be closed, pay attention to the fluctuations of the weekend
🔍Feel free to engage by commenting and sharing your preferred currency pair for analysis.
💼 Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
