The current USD/CAD chart is a great example of how confluence works in trading.
We are missing:
Don't short just yet, but keep an eye and wait for the confirmed break lower.
- The 2-wave uptrend has been slowing >> RSI divergence
- Price made a triple top
- Above current price we see a resistance level and the 138 Fib
We are missing:
- Strong bearish momentum break
- The break of the moving average to the downside
Don't short just yet, but keep an eye and wait for the confirmed break lower.
I have been trading for 15 years!
> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
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> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
> Free weekly trading webinar: www.tradeciety.com/webinar/
> Free blog: www.tradeciety.com/blog
