USDCAD SHORT

٩ نوفمبر ٢٠٢٣

I am observing a short trade opportunity on USD/CAD. It's a trend-following trade initiated from the daily resistance level. I see rejection in the daily candle, and when we look at the 1-hour chart, there are multiple additional confirmations such as a double top, head and shoulders pattern, and a rising wedge channel, all of which have broken their necklines and are now undergoing a retest.

Entry: 1.37835,
Stop loss: 1.3830,
Targets: 1.3725, 1.3675, and 1.3637.