USDCAD – 1H Bullish Divergence Detected

16 Nis

USDCAD – 1H Bullish Divergence Detected 🟢
✅ Setup Summary:
Timeframe: 1 Hour

Signal: Bullish Divergence

Bias: Short-Term Bullish Reversal

Context: Price made a lower low, but RSI or MACD made a higher low, signaling weakening bearish momentum.

🔍 Confluences to Watch:
Support Zone: Price reacting from a minor demand area or previous support

Structure Shift Potential: Breaking minor 1H resistance could lead to short-term upside

Volume or Candlestick Signal: Look for bullish engulfing, hammer, or Heikin Ashi flip

📈 Trade Plan – Long Bias
Entry Idea:

On confirmation candle (bullish close)

Or above micro-resistance/high that confirms shift in structure

Stop-Loss:

Just below the recent low where divergence formed

Take-Profit Targets:

TP1: Local resistance or 1H swing high

TP2: Fib 0.618 retracement of the last bearish leg

Aim for 1:1.5 to 1:2 R:R

⚠️ Key Notes:
Watch for CAD news (oil-sensitive) and USD volatility

If price makes a new low without divergence, reassess

Can use trendline break or moving average cross as extra confirmation

18 Nis

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Closed at Breakeven...