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USD/CAD – Sell setup in 4 hours chart
Wednesday, March 29, 2017 12:33
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Trend is bearish in 4 hours time frame. Vital resistance area is present at 1.3420 price level. Price action has showed some signs of a sideways pattern which looks like a Double Zig Zag Elliott Wave pattern at Wave 4 location.
To me; it looks like a clear sell trading chance to join the down trend and ride bearish Impulse Wave 5. However; in case price rise above 1.3420 strong key resistance level then down trend is going to end. In such case, I would prefer to stop myself from trading and re-analyze price action in USD/CAD currency pair.
Source: http://fxinstructor.com/blog/usdcad-sell-setup-in-4-hours-chart
