EURCAD - MY MOST CREATIVE CHART YET - MORE DOWNSIDE EXPECTED

As stated on the title this happens to be the most creative I've gotten with a chart, yet it covers one single but very important aspect which is Market Psychology. Market Psychology is key to understanding financial markets and we can see it unfold with this chart analysis. We can clearly see all the stages labeled out during the uptrend and what is now happening during the downtrend, and all these stages can be characterized by market psychology one way or another. I expect the pair to carry on with the downtrend all the way down to the 1.38xx - 1.39xx levels. The light blue colored zones are potential Demand zones. I know you shouldn't be using them as targets until they actually close in those areas, but there is evidence that makes me believe it will reach down to both of them.

Trade safe and implement your own due diligence before entering a trade.

تعليق:

Could potentially go for one more small move up before coming down

تعليق:

a small update...the bias still remains bearish although I would reconsider my initial targets

تعليق:

although it hit my stop initially the bias still remains bearish