Mornin' traders! There are a couple of key levels to watch here on USDCAD
. The most important of which to me is the 1.284 area. Before taking a long position I want to see price close the weekend gap and touch the unhit daily pivot
for Friday. Since a higher low was created from a bullish
impulse, I will be looking for bullish
price action (pinbars, engulfing
candles, signs of rejection) at this level toward the neckline and possibly further if the H&S
pattern remains valid. Until then, I'll be by the sidelines watching. Happy Trading!