I have already been bearish in my previous two analyses of USD/CAD. This trading plan relates to the weekly chart setup mentioned in the USD/CAD trading idea posted on June 20.
I already traded the USD/CAD twice, according to weekly timeframe setup along with other setups of smaller timeframes as mentioned in the previous two analyses, this is the last and final trade according to that weekly timeframe setup wherein I am targeting the mid-band of the Bollinger.
There are divergences and a head and shoulder pattern on H4 timeframe, which strengthen bears.
RSI is less than 50 on H1 timeframe, and the fall continued from a resistance area making a bearish engulfing candle pattern.
Please note that Keon Consultancy uses these ideas in Forex Account Management / Fund Management; however, it doesn't post all the ideas used in trading.
Closed with +1134 points.