Since the start of July, EURCAD have started to move sideways for the entire month with a stalemate between the Bulls and the Bears. At the moment, we are more inclined to think that perhaps a breakout to the north is more likely to happen. Let us have a look at the H4 EURCAD chart.
This is another trade idea generated by the Elite Swing Trader.
For this trade idea, we have identified the resistance level that the Bulls need to breach in order for us to be convinced that there is finally some direction in this pair. Let us have a look at the summary of the trade
- Buy Stop Order: 1.47165
- Stop Loss: Below 1.46512
- Take Profit: 1.47701
After a long sideways movement, we can almost always see an explosive move. The longer the consolidation, the more powerful the move…. We will be waiting for an explosive move soon. If not, there’s nothing else to do.
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The Elite Swing Trader Trading Dashboard
With the Indicator, you can now have multiple charts open and wait for the Elite Swing Trader will highlight potential trades to your attention. Of course, without saying, you do not trade every signals. Instead, this is a massive time saver. You decide on the trades to take.
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