📉 Seizing Opportunity: USDCAD 1H Double Top Breakdown 📉

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USDCAD presents a compelling selling chance! 🛑

A prominent double top formation has emerged, punctuated by a neckline breach, a successful retest, and a resounding rejection at this pivotal juncture. The stars align for a favorable entry to ride the downside momentum.

🧭 Leveraging the strength of the moving average and neckline, there is a confluence of resistances to strategically position our stop loss above above 1.35770 and trade safely.

🎯 Aiming for success, my take profit is located at 1.34200, while my target lies at 1.34700.

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TP1 reached

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pennant pattern formed and about to breakdown. perfect to add some shorts at midpath to the target

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Chart PatternsconfluenceDouble TopTechnical IndicatorsmomentumstrategymovingaveragecrossoverTrend Analysis

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