Possible Reversal on USDCAD

FX:USDCAD   U.S. Dollar / Canadian Dollar
Hi guys,
on USDCAD price has reached a key resistance area , therefore i were looking for a potential selling opportunity at this level. In the 4hr chart you can see we have huge divergence, along with a psychological number that could also provide some resistance.
But most importantly, price has formed a reversal pattern being the sequence of those 3 candles at that structure point: price broke through that level and after that break formed a doji candle followed by an engulfing . This signifies a lot of selling pressure.
Thus, i'm waiting to see a small pullback in order to get a better entry and therefore a better risk to reward ratio.
Stop above the highs, target1 at roughly 1:1 RR, target2 to be determined.

If you want to share your view, or ask questions, feel free to comment below.
Otherwise, see you in the next chart!
Trade active
Se sei d'accordo, lascia un mi piace! Grazie
Canale Italiano:
Ultimo video:

If you agree, like this chart! Thanks
My last (english) videoanalysis here:


Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out