USDCAD Watch for correction and look for sell

Hi there,

USDCAD is forming very nice correction we are expecting this correction to breakdown and resume the bearish trend for big fall.

How you can trade on this chart.

1. It is in a 4hr time frame correction which is about to finish watch for that correction to breakdown and go for short.

or

2. Wait for the the correction to get bigger on daily time frame then look for sell before the breakout.

In case we are not going to see breakdown of this correction then we will wait for the time to retrace at least upto 618 or 786 of impulse then we will go for short near the previous top. We will remain bearish on USDCAD for longer term if it is going to test the top again. You can trade for short term up but trade with care.

Keep adding more once price breaks and keep forming corrections.

Good Luck

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We are looking for something like this kind of drop. Here is the example.

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Here is the weekly Chart.

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