PERFECT USDCAD SHORT ENTRY

12 Eyl

I have a weekly short bias on USDCAD, we can see a previous strong rejection of the weekly 50ema, and currently price is rejecting the level again. Moving into next week this gives a bearish bias.

Now moving down to the daily timeframe there looks to be a clear head and shoulders structure forming, with the previous days candle showing a bearish engulfing bar from a liquidity zone, I am bearish, and looking for a lower timeframe entry.

Now on the lower 1h timeframe I am seeing a bos to the downside with a double pin rejection of ema.
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This break of trend, with all timeframes aligned, gives a perfect short setup imo.

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15 Eyl

İşlem elle kapatılmış

No meaningful reaction at key level, FED rate decision will cause chop. Better to exit now in profit.