USDCAD – 1H Bullish Divergence Detected 🟢
✅ Setup Summary:
Timeframe: 1 Hour
Signal: Bullish Divergence
Bias: Short-Term Bullish Reversal
Context: Price made a lower low, but RSI or MACD made a higher low, signaling weakening bearish momentum.
🔍 Confluences to Watch:
Support Zone: Price reacting from a minor demand area or previous support
Structure Shift Potential: Breaking minor 1H resistance could lead to short-term upside
Volume or Candlestick Signal: Look for bullish engulfing, hammer, or Heikin Ashi flip
📈 Trade Plan – Long Bias
Entry Idea:
On confirmation candle (bullish close)
Or above micro-resistance/high that confirms shift in structure
Stop-Loss:
Just below the recent low where divergence formed
Take-Profit Targets:
TP1: Local resistance or 1H swing high
TP2: Fib 0.618 retracement of the last bearish leg
Aim for 1:1.5 to 1:2 R:R
⚠️ Key Notes:
Watch for CAD news (oil-sensitive) and USD volatility
If price makes a new low without divergence, reassess
Can use trendline break or moving average cross as extra confirmation
✅ Setup Summary:
Timeframe: 1 Hour
Signal: Bullish Divergence
Bias: Short-Term Bullish Reversal
Context: Price made a lower low, but RSI or MACD made a higher low, signaling weakening bearish momentum.
🔍 Confluences to Watch:
Support Zone: Price reacting from a minor demand area or previous support
Structure Shift Potential: Breaking minor 1H resistance could lead to short-term upside
Volume or Candlestick Signal: Look for bullish engulfing, hammer, or Heikin Ashi flip
📈 Trade Plan – Long Bias
Entry Idea:
On confirmation candle (bullish close)
Or above micro-resistance/high that confirms shift in structure
Stop-Loss:
Just below the recent low where divergence formed
Take-Profit Targets:
TP1: Local resistance or 1H swing high
TP2: Fib 0.618 retracement of the last bearish leg
Aim for 1:1.5 to 1:2 R:R
⚠️ Key Notes:
Watch for CAD news (oil-sensitive) and USD volatility
If price makes a new low without divergence, reassess
Can use trendline break or moving average cross as extra confirmation
Trade closed manually
Closed at Breakeven...
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.
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.