USDCAD - Wait For The Bears ↘️
Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
on Weekly: Left Chart
USDCAD has been overall bearish trading inside the falling channel in red.
USDCAD is currently sitting around the upper trendline acting as a non-horizontal resistance, so we will be looking for trend-following sell setups.
on M30: Right Chart
USDCAD is forming a potential double top pattern but it is not ready to go yet.
For the bears to take over, we need a momentum candle close below the gray neckline.
Meanwhile, until the sell is activated, USDCAD would be overall bullish and can still trade higher.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
on Weekly: Left Chart
USDCAD has been overall bearish trading inside the falling channel in red.
USDCAD is currently sitting around the upper trendline acting as a non-horizontal resistance, so we will be looking for trend-following sell setups.
on M30: Right Chart
USDCAD is forming a potential double top pattern but it is not ready to go yet.
For the bears to take over, we need a momentum candle close below the gray neckline.
Meanwhile, until the sell is activated, USDCAD would be overall bullish and can still trade higher.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Trading Made Simple; and Rule-Based
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram:
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram:
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
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