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USDCAD: Price Action & Trading Plan USDCAD is forming an inverted expanding triangle on 4H. the price respects a horizontal 1.361 4H structure support with equal highs, setting new lower lows after each test. yesterday the above-mentioned structure was reached again. the price has formed a bearish engulfing candle and was rejected. on 1H the price has formed a double top formation with a lower high, respecting a 1.3575 minor horizontal support. to trade with confirmation, I would wait for a bearish violation of a minor horizontal support (1H candle close below), then I would sell on a retest. target levels: 1.354 1.351 safest stop will be above 1.361 or a new lower high in case of its formation. good luck
Short
by VasilyTrader
1
USDCAD: Price Action & Trading Plan USDCAD is forming an inverted expanding triangle on 4H. the price respects a horizontal 1.361 4H structure support with equal highs, setting new lower lows after each test. yesterday the above-mentioned structure was reached again. the price has formed a bearish engulfing candle and was rejected. on 1H the price has formed a double top formation with a lower high, respecting a 1.3575 minor horizontal support. to trade with confirmation, I would wait for a bearish violation of a minor horizontal support (1H candle close below), then I would sell on a retest. target levels: 1.354 1.351 safest stop will be above 1.361 or a new lower high in case of its formation. good luck
Short
by VasilyTrader
22
GBPUSD: Key Level, Reversal Signs & Candles hey guys, GBPUSD reached a key daily structure yesterday. the price has formed a perfect dodji candle on that and on 4H we see a strong bearish reaction with a bearish engulfing candle. the last resort for buyers is the support of the rising wedge pattern on 4H. in case of its bearish violation, the price may drop even lower. our trigger is 4H candle close below the wedge. target levels: 1.252 1.246 if the above-mentioned support is respected and the market sets new higher high higher close within the wedge, setups will be invalid.
Short
by VasilyTrader
11