Plan : trendline breakdown --> wait for prices to bounce off trendline resistance --> wait for the rejection candle pattern to form e.g. bearish engulfing , pinbar etc --> SELL
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We would like to show you a game...
While Penguins are on the hunt, you can easily join them as well!
It is easy, all you need to do is to collect the hearts and watch for the pig and thunder signs.
Targets are marked on the chart as a crosshair.
Heart in the box - a place to jump in/out
Sign with exclamation mark - places to be aware of a few...
Looking at the 4hr timeframe theres a short signal shown. If you look at the RSI which is at the overbought value indicating that it has reach its limit and the MACD is crossing below its previous days high. Putting my entery at 1.73788 , (RS1) 1.73217 and (S1) 74767
PRICE HAS HIT THE UPPER BAND, DOUBLE TOP CLEARLY FORMED @THE TOP .......I have also notice that banks are holding more longs on the cad and they are still holding a substantial amount shorts on the pound(gbp)....a sell is in order
since aug 2019, only had 5 down months with 1400+ pips increase in price.
now reaching a well respected long term trend line for the 4th touch.
waiting for further confluence on the daily time frame to look for trend reversal