USDCAD Short Opportunity - 4hr Flag
Updated
USDCAD is approaching a nice shorting area on the 4hr chart. We have indications of bearish divergence on the indicators below as well a point to take about the wave structure of this corrective move we have been experiencing over the last few months.
The corrective move is likely to be in its last wave before it at least tags the bottom daily trend, however A larger breakout move below this level is also a possibility because of this factor.
For this setup watch for a flag below the trend line before a position is taken. Wait for your confirmation from your own strategy before entering.
The corrective move is likely to be in its last wave before it at least tags the bottom daily trend, however A larger breakout move below this level is also a possibility because of this factor.
For this setup watch for a flag below the trend line before a position is taken. Wait for your confirmation from your own strategy before entering.
Trade closed manually
Closed at 1.30, bears losing steam and good news for CAD released.I got back in long on this pair at the same level - I hope you did too!
Note
Bad news for CAD - my mistake.Note
No Flag, trade postponed.
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