Seeking a quick scalp if sellers become aggresive @ $1.52:
Looks like a fantastic brief opportunity
I'm brief from 1.503 targeting 1.48
my stop is above 1.516
Short commerce EUR/CAD is starting to work nicely it sounds, targeting 1.46/7 may take a week or two 3, cheap swap so not bothered to give it some time.
Weekly price is open to reversal in this area (or just above marked'a'), to get a potential flat for wave two. This is dependent upon CAD strength returning, as it seems it may in other CAD pairs (usd/cad, aud/cad). For wave'c' of this apartment, 5 waves seem to have been completed.
So last week pa on EC turned out to signify re evaluation of the current highs and it spiked out above, I shut my EC past week just above B.E with the intent of entering higher, which I did, I'm much better positioned today, still short on EC, I think my target of 1.46 might be too low, I'm moving it to 1.47 - 1.49 area, stop above 1.53, might add more shorts if we see another spike over 1.52 later this week.
Cheers
I am anticipating a brief spike over 1.52 on thursday, I might ofcourse be wrong, but that will be fine also, I took profit on EUR/CAD shorts, also moved my vulnerability to AUD/NZD longs as I saw a great bargain price below mid 1.04's, if we see that a good spike over 1.52 on thursday I Might close out half of AUD/NZD Longs and short EUR/CAD Above 1.52, when we don't find another spike over 1.52 I shall just stick with my aud/nzd longs, main reason behind this choice will be ECB still coming, RBA done for the week I see less risk in being extended AN than being short EC into thursday. . If ECB isn't decidedly hawkish on thurday(I believe they may be cautious given current eur appreciation and more resilient than anticipated inflation new developing issues etc) I believe we will see dump and pump on EU mayb 1.13 then dump, that will ripple into- and effect other Eur crosses also.
Cheers
EURCAD
Pattern : Head and Shoulders
Sell Stop 1.51131
TP = 1.52083
SL = 1.49798
Telegram Channel : https://goo.gl/MDNkK0
What I drop that is nice. Did you guys were able to enter brief. Shorted in 1.48 Tp is place 1.46 and 1.45