USDCAD: Trend Reversal Signal

The trading idea is based on a bearish divergence, which gives us a trend reversal signal. The price bounced from the resistance zone. RSI confirmed the price reversal. MACD supports further downward movement. DMI does not confirm the strength of buyers.
We have a sell opportunity.

Entry Price: below 1.32800
Stop Level: above 1.33360
Profit Level: at 1.32060

Risk per trade must be no more than 1% of your capital. If the price reaches 1.32060 level, it will be possible to move stop orders to breakeven and leave the part of trade volume for 1.31500 target.



Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.