rising wedge and weakening momentum

7 Mar 2019

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!

7 Mar 2019

Not

potential violation

9 Mar 2019

Not

Hit t1

11 Mar 2019

Not

stop moved to entry

11 Mar 2019

İşlem kapandı: durdurma seviyesi

good trade, t1 reached