I think $USDCAD might be ready to trend down from here and fulfill the long term chart pattern implications. A long term decline back down to the mode in the 6-month timeframe is possible, but won't be a straight line down naturally. Ideally one would seek to short it when it gets overbought in weekly charts, for example, and aim to cover once oversold...rinse and repeat. This will provide countless trading opportunities for those who are patient and know how to read charts using Key Hidden Levels and Time@Mode.
Cheers,
Ivan Labrie.
Cheers,
Ivan Labrie.
Trade closed: stop reached
A good entry would be on retrace to the level in purple here, stop loss above the level in green at least.