Heed this killzone! USDCAD analysis
Hi guys,
i'm already involved in a CAD trade so i'm not taking this one. Nonetheless i want to share it with you so that anybody could take advantage of this opportunity and maybe get something out of it.
Here we can see price is giving us different hints of its reversal. First, it's right in the previous resistance zone (where sellers are ready to join the market), second, there's a Bat pattern completing there, in confluence with a .618 retracement of the previous bigger leg.
In addition to that, you can see the RSI is overbought.
The final sell signal comes from the shooting star that has been formed right now.
Stops should be above 1,34 level, target1 at roughly 1,25:1 RR, target2 along with bat's target2.
I'll keep you updated.
If you want to share your viewpoint or ask questions, use the comment section below.
Otherwise, see you in the next chart!
i'm already involved in a CAD trade so i'm not taking this one. Nonetheless i want to share it with you so that anybody could take advantage of this opportunity and maybe get something out of it.
Here we can see price is giving us different hints of its reversal. First, it's right in the previous resistance zone (where sellers are ready to join the market), second, there's a Bat pattern completing there, in confluence with a .618 retracement of the previous bigger leg.
In addition to that, you can see the RSI is overbought.
The final sell signal comes from the shooting star that has been formed right now.
Stops should be above 1,34 level, target1 at roughly 1,25:1 RR, target2 along with bat's target2.
I'll keep you updated.
If you want to share your viewpoint or ask questions, use the comment section below.
Otherwise, see you in the next chart!
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