USD/CAD analysis | September 4, 2019

Following 'faster and bigger move' on 1H time-frame, RSI crossover simultaneously took place with MA crossover. If you entered sell short right at close of the 1H candle that caused MA crossover, it's perfect.

Now is the time to stay ready for BOC at 14:00 GMT. If you believe that neither will BOC statement be dovish nor will rate-cut take place, you can hold on to sell till 1.3224. Nevertheless, stay tuned with us; should this setups gets invalidated by another setup formed in upcoming hours, you have to see if you need to close it prematurely (before TP).

The sell entered right at the CROSSOVERs, is already in profit, you can move SL to break even point (entry point) if you don't want to risk anything for BOC rate statement.

1D candled cosed below trend-predictor, that supports idea of 'stop grabber' pattern.


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