USDCAD - Already Over-Sold! Again...

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

📈 USDCAD has been overall bullish, trading within the rising flat channel in blue.

Currently, USDCAD is approaching the upper bound of the channel acting as a non-horizontal resistance.

Moreover, it is retesting a strong resistance zone at 1.36 marked in green.

🏹 Thus, the highlighted blue circle is a strong area to look for sell setups as it is the intersection of the green resistance and upper blue trendline.

📚 As per my trading style:
As #USDCAD is around the blue circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich

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