FX:USDCAD   Dollar Américain / Dollar Canadien
Good Morning Traders,

After closing two very profitable trades this morning, it's only natural to begin looking for new opportunities. I've identified an opportunity on USD/CAD.

On the Daily we have established divergence but have not yet broken the bear trend strength...which makes the approach a likely point to continue the sell.
On the 4 hour we have established divergence but have yet to break the bull trend strength...using the Daily and 4 Hour it looks like the markets intentions are going to be to sell soon.

Divergence is the Market telling you that there is hesitation to continue moving in a certain direction, the higher time frame used for divergence amplifies the magnitude or significance of that hesitation. The Market is smart and needs a reason to continue a trend or break it.

I am posting this as Neutral but will repost when the market has made a decision and a trade can be entered. For now, it is on the Watchlist and my bias is a sell on 4 hour - trend continuation on Daily.

Add your thoughts if you like!

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