CADUSD - Watching for bearish signal from top of range
CADUSD is currently range bound with price hugging the upper area of this range. In cases where price is range bound I am always watching for a fake break-out and pull back, which sets up the market for a push back down to the bottom of the range. The types of candlestick patterns I am looking for are pin bars, engulfing bars, 2 bar reversals, bearish engulfing bars, and evening stars. If a high quality bearish candlestick pattern formed I would consider getting short, but only after the pattern was broken out of. Finding key support and resistance and having a high quality pattern form is only part of the equation. Traders must weight for the pattern to to break lower to confirm the pattern, which will greatly increase the trades chance of success. As always... stay calm, be disciplined, and wait for those highest quality setups.
Dad of 5 • Dev • Candlestick Whisperer • Crypto class of 2019
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