Hello Trading Fam! 👋
EURCAD on the 1H chart is showing a clear bearish structure, with price forming lower highs and lower lows inside a descending channel. The marked green zone represents a key structure/supply area where price previously reacted, and now price is pulling back into this zone while also approaching the upper trendline of the channel.
This confluence suggests potential selling pressure, so the idea is to look for short opportunities if price shows rejection here, targeting a move back down toward the lower channel support.
Don’t forget to like and share your thoughts in the comments! ❤️
EURCAD on the 1H chart is showing a clear bearish structure, with price forming lower highs and lower lows inside a descending channel. The marked green zone represents a key structure/supply area where price previously reacted, and now price is pulling back into this zone while also approaching the upper trendline of the channel.
This confluence suggests potential selling pressure, so the idea is to look for short opportunities if price shows rejection here, targeting a move back down toward the lower channel support.
Don’t forget to like and share your thoughts in the comments! ❤️
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.