Hello Traders,
I am waiting for an upside retracement into the box zone before the downside trend continues to the dotted line area (which I believe to be a high probability reversal zone - potential bullish cypher). I will be waiting for a L3LC on the 1-4 hourly charts depending on how action unfolds, since the box region is in a consolidation zone. Fundamentally, crude oil is also pulling back, which supports my short hypothesis for CAD.
P
I am waiting for an upside retracement into the box zone before the downside trend continues to the dotted line area (which I believe to be a high probability reversal zone - potential bullish cypher). I will be waiting for a L3LC on the 1-4 hourly charts depending on how action unfolds, since the box region is in a consolidation zone. Fundamentally, crude oil is also pulling back, which supports my short hypothesis for CAD.
P