USDCAD on the 4h chart after the expected bearish impulse retraced exactly at the 0.381 Fibonacci level.
The price is moving in an ascending channel that can also be seen as a bear flag.
How can i approach this scenario?
If the price will break below the lower trendline and the support we can set a nice short order according to Plancton's strategy
Or else we can see a possible scenario where the market retest the previous support now turned resistance at the 50% retracement and fro there we will look for an inversion.
The price is moving in an ascending channel that can also be seen as a bear flag.
How can i approach this scenario?
If the price will break below the lower trendline and the support we can set a nice short order according to Plancton's strategy
Or else we can see a possible scenario where the market retest the previous support now turned resistance at the 50% retracement and fro there we will look for an inversion.