USDCAD Rising Wedge into Resistance - Short Entry
Not my favorite pair to trade.... High correlation to crude oil can produce erratic price movements.
But..... It's a textbook technical setup. I'll trade the chart. Short from here. Target = bottom of the wedge (if it breaks to the downside).
Some people might prefer to wait for the breakout. I'll fade the rejection when price tests the top side of the wedge (most breakouts fail, especially out the top side of a rising wedge)
Individual preference imo...
But..... It's a textbook technical setup. I'll trade the chart. Short from here. Target = bottom of the wedge (if it breaks to the downside).
Some people might prefer to wait for the breakout. I'll fade the rejection when price tests the top side of the wedge (most breakouts fail, especially out the top side of a rising wedge)
Individual preference imo...