Lingrid | USDCAD Short at Resistance Following Rejection Signal

The price perfectly fulfilled my previous idea. USDCAD rebounded strongly from the double bottom around 1.3700 and is now climbing within an upward channel. The structure shows lower highs capped by the red resistance trendline, while buyers attempt to sustain momentum toward 1.3868–1.3924 resistance. If price fails to break and hold above 1.3868, a rejection could send it back toward 1.3800 support. Broader context suggests a corrective upswing inside a larger resistance zone where sellers remain active.

⚠️ Risks:

• A clean breakout above 1.3924 would invalidate the sell bias and extend the bullish leg.
  
• Strong USD momentum from macroeconomic data could fuel further upside.
  
• Failure of the 1.3800 support could trigger deeper volatility spikes.

If this idea resonates with you or you have your own opinion, traders, hit the comments. I’m excited to read your thoughts!