USDCAD Divergence Confirmations. Long term Trading Strategy.
Unfortunately we hit last stop loss but there was no close above the previous highest high.
So, there is a high probability to catch the trade again. Risk averse traders can join the trade by sell limit at the low of this week candle.
USDCAD
If Risk is too high for you .... wait for nice price action/ pattern formation in lower timeframes.
Reason for Trade Setup:
Price Action 5 Impulse wave almost complete. Possible Correction or in best case complete reversal.
Support from Divergence confirmations on multiple indicators.
SL - Close above this high.
TP - ATR(5), 2*ATR(5), remaining on chart.
So, there is a high probability to catch the trade again. Risk averse traders can join the trade by sell limit at the low of this week candle.
USDCAD
If Risk is too high for you .... wait for nice price action/ pattern formation in lower timeframes.
Reason for Trade Setup:
Price Action 5 Impulse wave almost complete. Possible Correction or in best case complete reversal.
Support from Divergence confirmations on multiple indicators.
SL - Close above this high.
TP - ATR(5), 2*ATR(5), remaining on chart.
Trade closed: target reached:
Target 1 Reached.
Target 2 is still reachable.
Momentum is slowing down Update your Stops to Breakeven.
High Possibility that price will retests 1.3460 strong resistance area before hitting other targets.
Target 2 is still reachable.
Momentum is slowing down Update your Stops to Breakeven.
High Possibility that price will retests 1.3460 strong resistance area before hitting other targets.
