EURCAD 4H

12 May 2020

We are at a major descending line and a support/resistance horizontal line. I would look at the 4H for directional queues.

If we do break above, I would look for a solid retest and confirmation candle before getting into a buy. You may need to do this on the 1H.

Fib extension lines are marked.

12 May 2020

Not

Here's a 1H view. We are currently backtesting the descending line. If we can get a green confirmation candle following this test, it might be an opp to buy.

14 May 2020

Not

We are currently back testing the descending trend line. If close above this trend line + above the support/resistance line, it might be a good buy position.