USDCAD - Bearish Butterfly on Daily chart
USDCAD Analysis
Price is currently above the Daily ED channel.
However, I have spotted a bearish butterfly, waiting for price to close in the PRZ.
I will be monitoring RSI and H4 TF for entry.
RSI is at overbought level on H4 TF now, awaiting bearish divergence.
Note :
This is a counter trend trade, so monitor your trade closely, I might not choose to wait till TP1 if I were to enter.
Price is currently above the Daily ED channel.
However, I have spotted a bearish butterfly, waiting for price to close in the PRZ.
I will be monitoring RSI and H4 TF for entry.
RSI is at overbought level on H4 TF now, awaiting bearish divergence.
Note :
This is a counter trend trade, so monitor your trade closely, I might not choose to wait till TP1 if I were to enter.
Zlecenie aktywne:
Shorted at 1.338, aiming for mini profits.
Komentarz:
Conservative SL @ 1.34 and TP @ 1.335.
Transakcja zakończona: osiągnięto poziom stop:
Almost hit 30 pips TP a while ago but retraced and hit 20 pips SL instead.
USDCAD is rather volatile now, I shall move on to other pairs.
USDCAD is rather volatile now, I shall move on to other pairs.