USD/CAD 4H - This is another market I am looking to go short in, its important we are delivered with the right confirmation parameters first before we look to get introduced in this market, a refined entry would be great as well.
We would get confirmation of bearishness once we see the last protected low within this bullishness break after the penetration of the Supply Zone above, this would tell us that the correction has finished an a new leg lower is ready.
It also tells us that the S&D balance has flipped to the downside and we can expect that next higher timeframe impulsive wave to take place as Demand in this market has been offloaded and Supply in the market has been introduced via the zone marked out above.
Once we have the break of structure and penetration of the zone our entry will come from the pullback that follows, when price decides to set its first Lower High in the market.
We would get confirmation of bearishness once we see the last protected low within this bullishness break after the penetration of the Supply Zone above, this would tell us that the correction has finished an a new leg lower is ready.
It also tells us that the S&D balance has flipped to the downside and we can expect that next higher timeframe impulsive wave to take place as Demand in this market has been offloaded and Supply in the market has been introduced via the zone marked out above.
Once we have the break of structure and penetration of the zone our entry will come from the pullback that follows, when price decides to set its first Lower High in the market.