EURCAD: Structure Based Trade

Hey guys,

I was asked a lot about my view on EURCAD and where is the safest place to buy.
As the pair reached 1.47 I was very skeptical in bullish continuation and I was expecting the retracement.

Now the market is approaching a significant support area and I am paying close attention to a highlighted zone.
I will be waiting for a bullish breakout of a falling parallel channel as a confirmation signal to open long.

My stop will go below the lowest point of the channel
and target levels will be 1.462 and 1.468

*if you have a question, leave it in a comment section