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amanpaulbhogal

Stochastic bearish divergence on USD/CAD

Short
U.S. Dollar / Canadian Dollar (FX:USDCAD)  
amanpaulbhogal  
FX:USDCAD   U.S. Dollar / Canadian Dollar
hightest_bar Support and Resistance stochastic-bearish-divergence
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hightest_bar supportandresistance stochastic-bearish-divergence
After showing some resistance to the 1.3350 price area price signals bearish behaviour to follow. A high test bar offers an entry point and Stochastic bearish divergence brings confirmation for a potential drop in price.

entry - below low of high test bar
stop loss - above high of high test bar
target - 50 ema for 1:1 reward-risk profile or previous support level at 1.3030 for >1:1 reward-risk profile
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