EURCAD - Update - Correction has started to unfold
A quick multi time frame analysis.
Weekly:
- Ichimoku setup is strategic bearish. Bearish supports are at 1,3685 / 1,3835 / 1,4000
- Heikin Ashi pattern is a developing signal for a pull back: smaller candle bodies, with no lower lows make haDelta/SMA3 cross up.
Daily:
- Bearish Ichimoku setup
- Heikin Ashi signal is firm counter bullish now: a correction up to supports is unfolding
4H:
- Bullish Kumo breakout and bullish Heikin Ashi setup confirms what we see on the higher time frames.
Startegy: after we have closed all shorts (see my previous post) it is time to open 0,5-1 trade unit counter trend long position, placing a stop sell order ard 1,3145. Initial tgt is 1,3400 +/-
Weekly:
- Ichimoku setup is strategic bearish. Bearish supports are at 1,3685 / 1,3835 / 1,4000
- Heikin Ashi pattern is a developing signal for a pull back: smaller candle bodies, with no lower lows make haDelta/SMA3 cross up.
Daily:
- Bearish Ichimoku setup
- Heikin Ashi signal is firm counter bullish now: a correction up to supports is unfolding
4H:
- Bullish Kumo breakout and bullish Heikin Ashi setup confirms what we see on the higher time frames.
Startegy: after we have closed all shorts (see my previous post) it is time to open 0,5-1 trade unit counter trend long position, placing a stop sell order ard 1,3145. Initial tgt is 1,3400 +/-
