rising wedge and weakening momentum

7. März 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. März 2019

Anmerkung

potential violation

9. März 2019

Anmerkung

Hit t1

11. März 2019

Anmerkung

stop moved to entry

11. März 2019

Trade geschlossen: Stop wurde erreicht

good trade, t1 reached