Roker1
Short

Break of the Trendline on USDCAD!

FX:USDCAD   U.S. Dollar / Canadian Dollar
Hey guys,
this chart is the hourly chart on USDCAD but my analysis starts as usual on the daily tf where we had a nice engulfing candle at previous resistance with RSI overbought condition. This give me a nice background to look for selling signals. As we go down on lower timeframes you can see the engulfing candle represents a sharp impulse to the downside that broke the ascending trendline . This means we can now look for shorting opportunities as it retraces back to previous structure. In this case it seems to form an AB=CD pattern that allowed me to outline a reversal zone where i can seek for trading opportunities.
I'll keep you updated!

If you want to ask questions or share your view, leave a comment below.
Otherwise, see you in the next chart!
Se sei d'accordo, lascia un mi piace! Grazie
Canale Italiano: https://www.youtube.com/c/MisterForexIT
Ultimo video: https://youtu.be/0rIFF-j4kdM

If you agree, like this chart! Thanks
My last (english) videoanalysis here: https://youtu.be/RUySg8LW6Iw
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