forexjunkie33
Short

Great chance to get short on USD/CAD 1hr chart

FX:USDCAD   U.S. Dollar / Canadian Dollar
100 2 5
We have a great chance to get short at previous structure.

We have a rising channel with bearish divergence on the RSI .

Entry was at 1.3390

Stops are at 1.3465

Target 1 is at 1.3291

Target 2 is at 1.3180
Trade active
Hi, the RSI is the indicator at the bottom of my chart, where you see the the lines going up and down, RSI stands for relative strength index, it indicates how much momentum current price action has got.

As you can see on my chart there is a rising channel as i have drawn the trendline going upwards, but on the RSI at the bottom of my chart it is showing weakness in price action where i have drawn the trendline.

This indicates that the current trend is losing momentum and has a good chance that price action we come back down again.
Reply
hi, whats bearish divergence on rsi?
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out