Bearish Opportunity of USDCAD (1Hr) Short

U.S. Dollar/Canadian DollarFXCM

Description

⋅ Sep 22, 2020 1:59 AM

Bearish Opportunity on the Loonie with a potential Double top and a decent Risk to Reward ratio of around 1.5
We also have RSI being overbought as well as RSI divergence.
Targets based on previous structure looking left.

Let me know your thoughts :)

Trade closed: stop reached

⋅ Sep 22, 2020 1:26 PM

Comments

talalzebian

⋅ Sep 22, 2020 1:28 PM

Although opportunity is topped out on the 1Hr timeframe, it still looks viable from the 4Hr timeframe