EURCAD Triangle Breakout Provides Buy Opportunity

3
267
EURCAD Triangle Breakout Provides Buy Opportunity

Click To Join Our Community Telegram Group

Hi Traders! EURCAD triangle breakout provides buy opportunity. A detailed analysis of this bullish setup is as follows:

EURCAD W1 Chart:

On the weekly chart the price which is moving lower has currently reached a critical zone formed by the fibo levels of the cycle. In addition to this we also have a bullish divergence that has formed which we may consider as an evidence of bullish pressure. We may now look for more evidences of bullish pressure on lower timeframes in order to join the bulls.

EURCAD Triangle Breakout Provides Buy Opportunity

 

EURCAD D1 Chart:

On the daily chart we have a bullish divergence that has formed which we may consider as an evidence of bullish pressure. In addition to this the price has broken above the most recent downtrend line which we may consider as another evidence of bullish pressure. We may now start looking for bullish setups with more bullish evidences on lower timeframes in order to start looking for the buys.

EURCAD Triangle Breakout Provides Buy Opportunity

 

 

EURCAD H4 Chart:

On the H4 chart the price has created 3 higher highs, higher lows structure and in addition to this the price which was moving inside a triangle pattern has currently broken above the top of this pattern we may consider these as evidences of bullish pressure. We may now start looking for buys with more bullish evidences.

EURCAD Triangle Breakout 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 buy 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.

Not sure how to spot reversals (bounces)? Not sure how to spot breakouts?

I invite you to join me in my live trading rooms, on daily basis, and improve your trading with us.

Join Traders Academy Club Now 

Also you can get one of my strategies free of charge. You will find all the details here

 

Regards,

Yordan Kuzmanov
Chief Trader at Traders Academy Club

Advertisement

Click To Join Our Community Telegram Group

3
Leave a Reply

avatar
3 Comment threads
0 Thread replies
0 Followers
 
Most reacted comment
Hottest comment thread
3 Comment authors
BillJackKavegood Recent comment authors
  Subscribe  
newest oldest most voted
Notify of
Bill
Guest
Bill

Thank you Vlad, it was useful

Jack
Guest
Jack

Thanks guys for the continued support

Kavegood
Guest
Kavegood

Thankyou