USD/CAD 4H - With this pair we understand that price is bearish overall, giving us the bias to look to go short in this market, we have seen that price has traded into the area of interest above nicely and given us signs of rejection.
The unfortunate thing about fundamentals is that sometimes it gives us vast moves to the up and downside meaning our protected lows and highs are quite the distance away, like in this instance.
Realistically I would need to see a break in that low first in order to have the confirmation that this bullish correction on the 4H timeframes has finished and the next bear run is ready.
Now if you were to be pre-emptive you could look to go short sooner, I have marked out an Demand Zone I feel price will react from trade us higher again to see a Lower High. I have also marked out a fractal Supply Zone, this could be an area to enter from.
Again this comes with more risk as we dont have the higher TF confluence to suggest the next bear run yet, be mindful!
The unfortunate thing about fundamentals is that sometimes it gives us vast moves to the up and downside meaning our protected lows and highs are quite the distance away, like in this instance.
Realistically I would need to see a break in that low first in order to have the confirmation that this bullish correction on the 4H timeframes has finished and the next bear run is ready.
Now if you were to be pre-emptive you could look to go short sooner, I have marked out an Demand Zone I feel price will react from trade us higher again to see a Lower High. I have also marked out a fractal Supply Zone, this could be an area to enter from.
Again this comes with more risk as we dont have the higher TF confluence to suggest the next bear run yet, be mindful!