USDCAD made its new low at 1.3009. If you have heard the term from Tom Dante Swing failure pattern, the low 1.3009 is exactly a SFP.
I admit I did chase price a little bit to have entered at 1.3089. I was looking at it 2 hrs ago and got distracted . Forgot to further analysing this pairs, then when I look already moving with great momentum!
Target 1.3146
Trade active
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possible uptrend channel establish?
Comment
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Previous High made at 1.31990, whilst hitting the downard trendline produce from bigger timeframe.
Therefore further weakening is more in favour.
If resistance continue to hold below 1.3144, possible to short from there.