ONLY PLACE TRADE IF RISK TO REWARD IS <1 ENTRY PRICE: 1.29405 STOP LOSS: 1.30160 TAKE PROFIT 1:. 382 RETRACEMENT TAKE PROFIT 2:. 236 RETRACEMENT TAKE PROFIT 3: 1.29788 KEEP IN MIND THAT PRICE MADE HIGHER HIGH, AND CLOSED BELOW THE TEMA WITH A SHOOTING STAR CANDLE -RSI BEARISH DIVERGENCE, LOWER LOW, OVERSOLD - MACD MOMENTUM GETTING BEARISH BUT NO LOWER LOW OR BEARISH DIVERGENCE PLACE STOP LOSS TO BREAK EVEN WHEN PRICE HIT'S FIRST TARGET LOOK OUT FOR ECONOMICAL EVENT'S THIS IS JUST MY ANALYSIS IT COULD BE RIGHT OR WRONG. PLEASE LEAVE POSITIVE FEEDBACK, CRITICISM, YOUR THOUGHT'S AND YOUR IDEAS lIKE IF YOU FOUND THIS USEFUL AND FOLLOW ME FOR MORE IDEAS- I WOULD REALLY APPRECIATE IT GOOD LUCK, TRADERS
I agree with your bearish view on USDCAD. Our trading signal idea is also of the same bias. We see it testing its resistance area at 1.2990 where a potential reversal could occur. Here’s our idea!