EUR/CAD will go For Correction Wave
we have two scenario
First scenario: price will pull-back for correction wave and create higher low at black arrow or between 50:61 fibo level , so u can go short now and take any target or when confirming higher low in H4
second scenario: price will break current resistance area green arrow may be powered by news for CAD that will price to go up and we can go long and take any target
i personally prefer to go with low lot with first scenario and go with high lot with second scenario because second is walking with general up trend but i can take a trade with correction wave
have fun :)
First scenario: price will pull-back for correction wave and create higher low at black arrow or between 50:61 fibo level , so u can go short now and take any target or when confirming higher low in H4
second scenario: price will break current resistance area green arrow may be powered by news for CAD that will price to go up and we can go long and take any target
i personally prefer to go with low lot with first scenario and go with high lot with second scenario because second is walking with general up trend but i can take a trade with correction wave
have fun :)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.