EURCAD 15 Minute Chart December 22 2023Price made a pullback to the supply zone (Gray box) and respected this zone which triggered the 2nd sell entry (Blue) at 1.4638 with stop loss at 1.4668 and target at 1.4578.
EURCAD 15 Minute Chart December 26 2023A 2nd bearish Accumulation, Manipulation, Distribution pattern forms and sends price lower to the proposed targets.
EURCAD moves lower and hits the 1:3 Risk/Reward target 1.4565 for the first entry (Green) and also hits the 1:2 Risk/Reward target 1.4578 for the 2nd sell entry (Blue) for over +150 pips combined. (Approximately +5.5% gain risking 1% on every trade)A trader should always have multiple strategies all lined up before entering a trade. Never trade off one simple strategy. When multiple strategies all line up it allows a trader to see a clearer trade setup. We at EWF never say we are always right. No market service provider can forecast markets with 100% accuracy. The only thing we at EWF 100%, is that we are RIGHT more than we are WRONG.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. More By This Author:S&P 500 ETF Looking To End Impulsive RallyWest Pharmaceutical Services Bullish Daily CycleXLI Elliott Wave: Buying The Dips At The Blue Box Area
