USDCAD

Monthly
• Moving Averages crossed to the upside
• Price action showing a bearish structure
Weekly
• Moving averages crossed to the downside indicating bearish momentum
• Price action left a strong bearish pin bar
• Price has been on a bearish decline since 5th May 2017
Daily
• Moving averages remain crossed to the upside which is inconsistent with the weekly and monthly
• Price action formed an Evening star reversal candlestick formation at the 61.80 Fib level
• Bullish counter trend-line drawn onto chart with break and subsequent drop of price expected
4 Hour [Execution Time Frame]
• Moving averages about to cross to the downside as they are closely converged
• Bullish counter trend-line yet to be broken
• P.A making an inside bar candlestick formation at 61.80 Fib level which serves to be a potential reversal area
• Await trend-line break and retest before going short as structure needs to be broken first before taking short positions with the right risk management