USD/CAD 4H & 1H - I thought I would update you all on this pair whilst the markets are dead, you can see I have provided you with two images just to make it easier to see my thoughts with this market.
Price as of recent has penetrated a higher timeframe Supply Zone and has delivered us with a fractal BOS to the downside, this is good as it suggests a move now to the downside.
However I have marked out the last higher timeframe protected low as well, a break here would confirm a change in trend and would suggest longer term bearishness.
Now there is no harm in looking to go short in this market without that, its just important we wait for price to trade into a fractal area of Supply and we see price trade in a break lower again to confirm the end of the initial correction.
Price as of recent has penetrated a higher timeframe Supply Zone and has delivered us with a fractal BOS to the downside, this is good as it suggests a move now to the downside.
However I have marked out the last higher timeframe protected low as well, a break here would confirm a change in trend and would suggest longer term bearishness.
Now there is no harm in looking to go short in this market without that, its just important we wait for price to trade into a fractal area of Supply and we see price trade in a break lower again to confirm the end of the initial correction.