Eurcad Trend Trade Potential

The Eurcad pair has been in a downtrend for quite some time. Whenever we get a trend of this type, it is easier and better to just keep moving with the trend until we get a confirmed reversal. In reference to the 4 hr chart below, the horizontal line marks an area that acted as tough support from the daily timeframe. It finally broke down, and I am looking to enter shorts as soon as they set up on the 1 hr timeframe. By this I mean that I will be looking for trendline bounces, and shorting them on the hourly, based of the overall bearish trend. Each time I get a signal, I will be exiting at Fibonacci targets, while allowing one lot to run. Trading in this way helps you to maximize your profit potential.

A nice area of daily support I am targeting is 1.2700.

All the best, and Successful Trading to You!

The following two tabs change content below.
Winners Edge Trading was founded in 2009 and is working to create the most current and useful Forex information and training available on the internet.

Winner’s Edge Trading, as seen on:

Winner's Edge Trading in the news

  • Thanks Yankee 🙂 Your short still looks good though, just taking longer than you probably expected
    Last time I checked, it was Tuesday, though it feels so much like a Monday. (Thanks again for the comment, and hope to catch you in the room tomorrow 🙂

  • YankeeClipper1

    Hi Sophia,
    Looks much better than the pair (eurusd) I jumped in on…. My short bounced once on 1.2666 then everything seemed to come to a (flat) stop lol.
    Ho Hum…. still time yet (It IS still only Tuesday right?)