After making a move down the pair is stuck in a price range (an encircled area) and accumulates power for another move down if a flag (an encircled area) resolves down.
If USDCAD breaks down a corrective structure there will be a nice sell opportunity. However, trade only tested strategies in this setup for there is a chance it could surge up for one more up move when it approaches the trendline.
If USDCAD breaks down a corrective structure there will be a nice sell opportunity. However, trade only tested strategies in this setup for there is a chance it could surge up for one more up move when it approaches the trendline.
Comment:
Time to move your stops. There is a chance that reversal is coming