EURCAD Special Cycle Provides Buy Opportunity

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EURCAD Update And Follow Up Of The Buy Opportunity

Hi Traders! EURCAD special cycle provides buy opportunity for us. A detailed analysis of this setup is as follows:

EURCAD H4 Chart:

On the H4 chart we have a special cycle, it looks like this special cycle is completing itself. Based on the fibo extension levels of the first leg of the two double cycles we have the 161.8 fibo extension level of the first leg of the first double cycle and 61.8 fibo extension level of the first leg of the second double cycle coincides on the same area, thus creating a magnet zone for us. Currently the price has reached this magnet zone,  we also have a bullish divergence that has formed which we may consider as a confirmation for bearish pressure. If a bullish reversals happens here, wait for more bullish evidences in the form of false break and trend line breakout. We may then start looking for buys expecting the price to move higher until it reaches the 38.2 – 50% fibo retrace zone.

EURCAD Special Cycle Provides Buy Opportunity

Note: It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this setup then you can use any setup and strategy that you have in your arsenal to look for bullish moves and join this buy trade.

If you want to learn how to do such analysis yourself, if you are looking for a professional team of traders and one of the best online trading communities, If you are looking for enormous archive of Webinars, Trading Tools, Trading Strategies, Books, Indicators, Expert Advisors and much much more, join my traders academy club for only $97 PER YEAR.

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Yours to your success

Vladimir Ribakov

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4 COMMENTS

  1. Thank you Vlad looking forward for more trading ideas from you. I should admit that I have started learning so much through your blog. Thanks again!!

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