rising wedge and weakening momentum

Mar 7, 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!

Mar 7, 2019

Note

potential violation

Mar 9, 2019

Note

Hit t1

Mar 11, 2019

Note

stop moved to entry

Mar 11, 2019

Trade closed: stop reached

good trade, t1 reached