FX:USDCAD   U.S. Dollar/Canadian Dollar
253 4 3
on the 4h time frame we can see that the price is out the up channel and breaking the last bottom and going to form H&S pattern , the breakout of the neckline was with a strong candle but the price going up again to retest the neckline , on the other part , we find that the price on the 1h time frame is going down and still making LH and LL (lower highs and lower lows ) , and we can see else that the price breaking out a support of trading range , i think that opening SHORT position with a SL obove the resistance of the trading range is a good idea ...
sorry if my english is so bad :))
By the way where would you put stop loss for this trade?
my stop is above the resistance of the trading range , that is mean above the right Shoulder ( price must close above not just make a high )
NizarRahalii NizarRahalii
now the price still bearish and on the resistance of the down channel at the 1h time frame , other opportunity to open other SELL position :)
kamukak NizarRahalii
thank you Nizar,
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