Head & Shoulder on USD/CAD (1 Hour)

Through my analysis I have detected a small Head & Shoulders Pattern on the USD/CAD 1 Hour chart. This could signal a potential trend reversal as there was also a Downtrend Rising Wedge involved, and it has already been broken. I am looking to go SHORT on the asset once the 200 EMA has been crossed, then I know that there is a possible continuation to the downside. The market had also failed to create a higher high, resulting in a decrease in momentum.

Trade geschlossen: Ziel wurde erreicht:

Well Done guys. Like I said the break of the moving average will increase the confirmation of the direction. Well done for those of you that went SHORT.