Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
on Daily: Left Chart
USDCAD is retesting a resistance zone in blue so we will be looking for sell setups on lower timeframes.
on H1: Right Chart
USDCAD is forming a head and shoulders pattern but it is not ready to go yet.
🏹 For the bears to take over, we need a momentum candle close below the gray neckline.
Meanwhile, until the buy is activated, USDCAD can still trade higher inside the resistance or even break it upward.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
on Daily: Left Chart
USDCAD is retesting a resistance zone in blue so we will be looking for sell setups on lower timeframes.
on H1: Right Chart
USDCAD is forming a head and shoulders pattern but it is not ready to go yet.
🏹 For the bears to take over, we need a momentum candle close below the gray neckline.
Meanwhile, until the buy is activated, USDCAD can still trade higher inside the resistance or even break it upward.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich