USDCAD Short Daily Supply Revisited

OANDA:USDCAD   U.S. Dollar / Canadian Dollar
I identified this potential set-up 2 months back, then after realizing price action has been ranging, determined I should not trade this zone. After revisiting. I like the potential set-up again.

Weekly Demand formed back in early Feb with USD shooting up last week, but now coming into the daily supply area

New price action has formed since initial analysis, making lower highs, and slightly lower lows on the daily

Same nested area / top of daily applies
(as an aside RSI was running very oversold for much of last week. Not a signal, but more of confirmation that price is ready for downside move. This gives me some more confidence in my initial analysis)

Price stalled for 4-5 days at this area. If trade is triggered, price will either shoot through higher, or drop with no demand until below 1.32.
partial @ 3:1
final @ 8:1
Trade active
Trade closed: stop reached


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