I am not an expert on USDCAD but here is my idea
Updated
I am expecting a consolidation here, hugging the top of the trendline, then taking out the top for liquidity, then rejecting downwards, beginning it's new downtrend.
If price wants to go down from a higher timeframe perspective, we should see this setup forming (shown in pink arrows) for a continuation trade downwards.
Here is the view of the bigger perspective showing a big triple top, Head & Shoulders formation:
If price wants to go down from a higher timeframe perspective, we should see this setup forming (shown in pink arrows) for a continuation trade downwards.
Here is the view of the bigger perspective showing a big triple top, Head & Shoulders formation:
Order cancelled
It did not show any sign of weakness, so did not take the trade
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