rising wedge and weakening momentum pour FX:GBPCAD par VasilyTrader

rising wedge and weakening momentum

hey traders,

on pound cad the market has reached a decent level of structure,
and RSI on a daily chart is overbought.

Indeed, on a 4h chart we can see a weakening bullish momentum with a clear rsi divergence

the market has formed a nice rising wedge pattern,
bearish violation of it will give us a great opportunity to sell the market.

targets will be based on structure and stop will be above higher high!

good luck!

Note

potential violation

Note

Hit t1

Note

stop moved to entry

Trade fermée: ordre d’arrêt atteint

good trade, t1 reached

VasilyTrader

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