USDCAD long / short opportunity on If / Then theory

Here on the USDCAD we are in a long term down trend, but we are currently on the "top" of an outside return - which means we are at a decission point where price can continue the longer term downtrend, or continue the short term uptrend.

On the chart we got a bearish Cypher formation at structure resistance, so IF price gets up to our PRZ level -Then we go short.

If price retrace down to the bullish Cypher formation -Then we go long at our PRZ level on a trend continuation trade.

Kind regards
Thomas Jeff

Trade active:

On bullish formation. The Bearish Cypher is invalid, remove orders

Comment:

Stop moved to break even