hey traders,
on pound cad the market has reached a decent level of structure,
and RSI on a daily chart is overbought.
Indeed, on a 4h chart we can see a weakening bullish momentum with a clear rsi divergence
the market has formed a nice rising wedge pattern,
bearish violation of it will give us a great opportunity to sell the market.
targets will be based on structure and stop will be above higher high!
good luck!
Note
potential violationNote
Hit t1Note
stop moved to entryTrade closed: stop reached
good trade, t1 reached
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✅Join My Telegram Channel: t.me/VasilyTrading
❗️YouTube Channel youtube.com/c/VasilyTrader
✅ Facebook: facebook.com/VasilyTrading/
⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐
❗️YouTube Channel youtube.com/c/VasilyTrader
✅ Facebook: facebook.com/VasilyTrading/
⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.