USDCAD - Already Over-Sold!

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

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

Currently, USDCAD is rejecting the upper bound of the wedge pattern acting as a non-horizontal resistance.

Moreover, it is retesting a strong supply zone at 1.36 marked in red.

🏹 Thus, the highlighted blue circle is a strong area to look for sell setups as it is the intersection of the red supply 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