USDCAD - Bearish Crab Completed on Daily Chart
Here we have a completed crab pattern with price closing slightly above PRZ.
Price hit the top of the ED channel but did not close above it.
Overall trend is still bullish, but we might be able to trade within the channel.
Might look at H4 chart for good entry point.
Price hit the top of the ED channel but did not close above it.
Overall trend is still bullish, but we might be able to trade within the channel.
- RSI is currently overbought, will wait to see bearish divergence
- Daily candle looks like a shooting star/inverted hammer, good signal to sell, however still better to wait for all criteria to met
- R:R at 1.5 (TP1) and 2.5 (TP2)
Might look at H4 chart for good entry point.