There's a potential double top with RSI divergence forming on USDCAD 4H near our structure zone, and around an AB=CD completion. Also have a 1.618 extension confluence with the double top, and the trend is currently bearish.
Waiting to see if candle closes as a valid double top before selling this.
Will be using traditional targets for AB=CD patterns as the trend on higher TF is bullish.
Always conduct your own analysis before placing a trade.
Waiting to see if candle closes as a valid double top before selling this.
Will be using traditional targets for AB=CD patterns as the trend on higher TF is bullish.
Always conduct your own analysis before placing a trade.
Trade active
Note
Target1 hit.Trade closed: target reached
Target2 hit.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.