EURCAD Technical Analysis May 30/2019
EURCAD : Bullish market patterns can be seen on the EURCAD 1 hour chart. In the chart below, both the blue and purple bullish patterns have already triggered BUYS. Blue bullish pattern triggered BUYS at the BC 0.50% Fib. retracement level and the purple bullish pattern triggered BUYS at the XA 1.27% Fib. retracement level. A momentum breakout has already broken above the green BUY level showing confirmation that the blue and purple bullish patterns have strong buyers and will push the EURCAD higher. I tweeted the BUY on Twitter May 30/2019 at around 7:50 pm EDT > “Bought@1.5050 SL 1.4995 TP1 1.5105 TP2 1.5160”. Our clients were already aware of the possible move higher when we posted our Elliott Wave count for EURCAD at the members area New York Mid-day update May 30/2019 around 2:30 pm EDT. The second chart below, we advised clients the possible move higher with an Elliott Wave analysis showing a possible bullish Wave (iii) of wave ((c)). Now traders need to see if targets will hit or reverse and trade gets stopped out. Only time will tell.
EURCAD 1 Hour Chart 5.30.2019 (Bullish Market Patterns)
EURCAD 30 Minute Elliott Wave Chart 5.30.2019 (From Members Area)
Of course, like any strategy/technique, there will be times when the strategy/technique fails so proper money/risk management should always be used on every trade. Hope you enjoyed this article and follow me on Twitter for updates and questions> @AidanFX or chat me on Skype > EWF Aidan Chan
*** Always use proper risk/money management according to your account size ***
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