USD/CAD - sell on 4H - next big down movement incoming
Market is currently in up movement correction after last weeks analysed breakdown. I expect sellers entering the market at 1.3255 because there is 38.2 fibonacci retracement line and a long term trend line as well which is now resistance.
-RSI retraced from trend line support. Expect fast price down movement if RSI line breaks the up trend line
-100 day moving average near crossing of 200 day moving average on daily chart which is bearish indicator
-bearish volume peak on August 7th indicates trend reversal
-possible head and shoulder formation which is active after breakdown from neckline
-RSI retraced from trend line support. Expect fast price down movement if RSI line breaks the up trend line
-100 day moving average near crossing of 200 day moving average on daily chart which is bearish indicator
-bearish volume peak on August 7th indicates trend reversal
-possible head and shoulder formation which is active after breakdown from neckline
Trade active
Trade closed: target reached:
trailing stop reached after up movement without sense. USD is weak but you still get more CAD for it. can somebody explain me the sense of it ?? There isn´t one....
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
take profit 2 at drawn area within next days