USDCAD is obviously downtrending. A bullish corrective wave is anticipated, but lets not count out opportunities to enter short while riding the trend before the reversal.
H4 we can see a possible break/retest of the current low to form new lows. market is below 20 ema. multiple supply zones and market structure.
Easy entry upon initial break out, or wait for the retest, or both. Stop loss above market structure. almost 1:3 risk to reward ratio.
Also the trend line demonstrates bearish market structure.
H4 we can see a possible break/retest of the current low to form new lows. market is below 20 ema. multiple supply zones and market structure.
Easy entry upon initial break out, or wait for the retest, or both. Stop loss above market structure. almost 1:3 risk to reward ratio.
Also the trend line demonstrates bearish market structure.