USD/CAD Bearish Rejection Setup - 1H Chart

140
๐Ÿ”ต Structure:
Price is respecting a downtrend channel with lower highs and lower lows โžก๏ธ Confirming bearish pressure.

Key Zones:

๐ŸŸ  Resistance Zone:
๐Ÿ“ 1.36881 - 1.37075
โš ๏ธ ๐Ÿ”ด Sell Zone
๐Ÿ”ต EMA 70 also aligns here โžก๏ธ Extra confluence for bearish rejection.

โšซ Entry Point : 1.36780
๐Ÿ›‘ Stop Loss : 1.37089 (Above Resistance)

๐Ÿ”ต Support Zone:
๐Ÿ“ Current minor support area shown on chart โ€” price reacting around it.

๐ŸŽฏ Target Point: 1.35500
๐ŸŸข Green zone marked for bearish target area.

Expected Move

โœ… Small bullish move ๐Ÿ”ผ toward resistance.
โœ… Rejection likely near resistance zone ๐ŸŸ  โžก๏ธ Short opportunity.
โœ… Anticipating bearish continuation ๐Ÿ”ฝ toward target zone 1.35500.

Summary

๐Ÿ”ป Trend: Bearish
โš ๏ธ Sell Zone: Resistance Area
๐ŸŽฏ Target: 1.35500
๐Ÿ›ก๏ธ Stop Loss: 1.37089

Bias: Wait for price to enter sell zone, look for rejection signs, then short.

Let me know if you'd like me to place these emojis directly on the chart for you too! ๐ŸŽจโœ…

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