SHORT USDCAD: head and shoulders pattern on overbought market Short

U.S. Dollar/Canadian DollarFXCM

Description

⋅ Apr 25, 2019 6:43 PM

very overbought market on dollar cad.
rsi shows clear divergence.
looking left we see a nice rejection candle indicating strong bearish pressure around this area.
now we have a formation of a head and shoulders pattern.

wait and sell the retest of the neckline.

Initial target 1.344

Trade active

⋅ Apr 26, 2019 5:17 AM

Comment

⋅ Apr 26, 2019 1:09 PM

Market is close to Target

Comment

⋅ Apr 26, 2019 6:23 PM

Stop to breakeven

Trade closed: target reached

⋅ Apr 30, 2019 6:53 AM