USDCAD Triple Top Reversal
Structure: Range Bound (1.3030 - 1.3350)
Moving Average: Lacking Trend, Ups and Downs Crossover since Aug 19
Trendline: Uptrend Line from Jan 20 Broken
Pattern: Triple Top
Trigger: Evening Star + Bearish Confirmation
Resistance: 1.3320, 1.3345
Support: 1.32, 1.31
After a long bullish run from Jan 20, price stalled fourth time at 1.3320 huge resistance
Daily candles confirm bull power might run out of steam, with huge downside potential
Wait for 1H or 4H rejection candle signal
Short Area: 1.3270 - 1.33
SL: 1.3360
1st Target: 1.3110
2nd Target: 1.3030
Moving Average: Lacking Trend, Ups and Downs Crossover since Aug 19
Trendline: Uptrend Line from Jan 20 Broken
Pattern: Triple Top
Trigger: Evening Star + Bearish Confirmation
Resistance: 1.3320, 1.3345
Support: 1.32, 1.31
After a long bullish run from Jan 20, price stalled fourth time at 1.3320 huge resistance
Daily candles confirm bull power might run out of steam, with huge downside potential
Wait for 1H or 4H rejection candle signal
Short Area: 1.3270 - 1.33
SL: 1.3360
1st Target: 1.3110
2nd Target: 1.3030
כתב ויתור
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