FX:USDCAD U.S. Dollar/Canadian Dollar
I am tempted to buy blindly in this area with a tight stop, however a more conservative approach will be to wait for price confirmation. This is a buyers area and also a .618 confluence.
If 1.0820 breaks to the downside were looking at a potential trend change, so yes by definition, that area does provide a higher probability for a bounce. However in the 920 area, we have a lot of confluences that you just cant ignore, it provides a nice R/R. The plan is to buy in this area with a tight stop. A break downwards will trigger the 820 area next, there are 100 pips separating the two.