A) Need to wait for breakout past the resistance zone before going long
B) Wait for retrace and a better risk reward opportunity (e.g. if a flag forms, wedge, etc.).
Currently waiting for better value.
Market broke down from the 7700 area of resistance. Maintaining a bearish bias until that level is proven wrong.
Looking for a clear break of this flag in order to go short. Otherwise the next area of interest is at 7700
USDCAD is in a general move up (based on the H1 timeframe).
Here on the 15min chart it is currently in a channel. If it can break out above the channel I would consider going long.
NOT considering shorts here on a breakdown.
FYI - info purposes only. Trade your own plan