EURCAD trade

Here is how EURCAD trade is developing this week.

A short order has opened below the low of Bearish Divergent Bar, taken on the next session. Stop loss survived during the next rally which finished forming a new Bullish fractal (never taken) and 3 red Momentum bars offering a new short entry point.

The strong up and down moves during these sessions ended into a small range while seaming power for the next move.

During this range two type of orders have been placed - stop & reverse long orders above Bullish fractals and new short stop orders below the Bearish fractals.

Latter were taken in a furious diving. These few sessions fall in the Red Zone with great opportunity to add new orders to the trade without almost no risk.

Current session is gravitating around the fresh Bearish Fractal and possible Bullish Divergent Bar. Possible because 78% Fibo level is around and the diving slope is too much acute.

So from here forward we place a sell stop order and a buy stop order, tighten the stops for the open positions and let's look where are we going...