USDCAD 4H Descending channel
USDCAD is creating lower highs/lows on a 4 hourly descending channel. With MACD gaining strength any pullback towards the channel top may create a hidden bearish divergence which can be treated as an area to look for weakness creating a possible short entry. as an example, using something like a bearish engulfing candlestick in this area is acceptable to trade and defines your risk as the channel top or slightly beyond.
Take profit can be set to a gap close or the recent high before the gap.
risk for all trades is 2.00% maximum
this particular trade yields a 1:6 risk reward
Take profit can be set to a gap close or the recent high before the gap.
risk for all trades is 2.00% maximum
this particular trade yields a 1:6 risk reward
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