I hope price will crawl up some more, giving me a better sell once it breaks. But I still see great potential for USDCAD to advance north so a scenario as shown in the chart would be very sweet. Good luck
Price is still moving in this downward channel. If price breaks the channel, I will wait for a flag and then buy but I think further down movement is more plausible to retest the bottom of that daily/weekly consolidation and sell as shown in the chart, Good luck
Price broke out of the consolidation but is forming a pattern indicating potential down movement. History might repeat itself. Price may crawl up very slowly but I wouldn't be surprised if it shoots down on more time so I better be prepared for that :-) Good luck
This currency pair recently made me loose some hair so I tidied up my chart for some insight. I came up with that: Price pulled back to closely 50% so there are two options
1) It's a simple pullback in a strong bullmarket and price is shooting up from there
2) Price is going to make a more complex abc correction.
If I see a flag or some structure indicating down...
It seems to me that they really don't wanna see the USDCAD up. A previous BO failed splendidly and I suspect the current BO to be false as well. The only thing that held true is downside so I'm going with that. If price breaks the the little channel down, I'm going short for a retest of the bigger trendline of the bottom. Good luck