USDCAD 4H TF
confirmed H$S with the neckline line being at 1.31855 if we can break below this key level and close i will then be going short on this pair, we have currently had our first rejection off the 50 EMA acting as a dynamic resistance level with around 1hr remaining on the current candle if the candle closes how it is it will then be a hammer candle which indicates bullish so will have to see how price action plays, for extra bearish confluence my 5 SMA has crossed below my 10 SMA and stoch% heading downwards with both lines crossed around 65.92
confirmed H$S with the neckline line being at 1.31855 if we can break below this key level and close i will then be going short on this pair, we have currently had our first rejection off the 50 EMA acting as a dynamic resistance level with around 1hr remaining on the current candle if the candle closes how it is it will then be a hammer candle which indicates bullish so will have to see how price action plays, for extra bearish confluence my 5 SMA has crossed below my 10 SMA and stoch% heading downwards with both lines crossed around 65.92