Bear butterfly pattern formed on USDCAD
It appears a bear butterfly pattern formed on USDCAD. I´m entering short at current levels with sl above 1.35 on a daily close. Target around 1.30 six trading Rules : 1. ne’er add to a losing position . 2. Don´t be the primary to buy low and sell high ., and don´t be the last one to exit 3. think like a fundamentalist, trade like a technician . 4. Keep your analysis easy 5. begin little and increase exposure when trend is confirming your analysis 6. The hard trade is the right trade.
USDCAD Analysis – Moving up once more
Traders: This pair finished the correction inside the ascending 4H channel. And now, with RSI 4H div, this pair goes to move up , back to the highest of the 4h channel. Otherwise ,it will drop down to 1.30 which isn’t likely to happen in this chart.
In Another point of View – USDCAD 4H – Potential 290 Pips
-H&S on Daily Chart -Bearish Divergence -Elliot’s Wave