USDCAD - Bearish RSI divergence signal on both H4 and H1
2019-11-13 15:56:15
PAIR IN FOCUS: USDCAD
ACTION: SHORT
HORIZON: SHORT-TERM
The presence of bearish RSI divergence on both H4 and H1 timeframes increases the credibility of the RSI divergence. We can look out for bearish price action (especially wicks to the upside) before any SHORT entry. Expecting price to reach the TP levels which are nearby support/resistance levels if price breaks below 1.32170 range. Stop loss will be above the lower bound of the broken trend channel.
The TP levels and Stop loss have been indicated on the chart. Remember to manage your risk!
Feel free to discuss and comment, Cheers!
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