USDCAD - Sell Stop on Break of Previous Higher Low
Updated
Trade Analysis
Currently, there is a bearish divergence and 4-hour resistance indicating a potential trend reversal to bearish. Confirmation of this reversal will be evident if the price breaks the previous HL. As it breaks the HL, it will also break the support levels. Consequently, this support will turn into resistance and will be used as the SL.
Trade Plan
Currently, there is a bearish divergence and 4-hour resistance indicating a potential trend reversal to bearish. Confirmation of this reversal will be evident if the price breaks the previous HL. As it breaks the HL, it will also break the support levels. Consequently, this support will turn into resistance and will be used as the SL.
Trade Plan
- Entry: 1.37012
- Stop Loss (SL): 1.37095
- Take Profit 1 (TP1): 1.36929
- Take Profit 2 (TP2): 1.36846
Order cancelled
Divergence wasn't played and the trend remained bearish
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