USDCAD - Trending up, BUT possible correction - Trade Set Up
USDCADUSDCAD has been in strong up trend. 1D shows the uptrend. Correction may be near. MACD & RSI showing bear diversions. CCI doesn't completely correlate.
Trade Plan:
1. High probability it will retest 1.3352. I'll be looking for a short entry.
2. There is also a possibility the correction has already started. I am looking at 4h/1h for trade set ups/short entry in case USDCAD does not retest 1.3352. #2 will be smaller positions and shorter time frame trades.
Appreciate constructive feedback.
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