USDCAD Buy Idea With Two Possible Scenarios
D1 - Price is bouncing higher from a key support zone.
Multiple false breaks with bullish divergence.
H4 - After the strong bullish move currently it looks like a flat correction is happening.
Scenario 1 - More aggressive approach. Looking for bullish setups from the bottom of the consolidation.
Scenario 2 - Breakout above the consolidation zone, and only then looking for bullish setups.
If we get a valid breakout below this strong support zone then it would invalidate this bullish view.
Multiple false breaks with bullish divergence.
H4 - After the strong bullish move currently it looks like a flat correction is happening.
Scenario 1 - More aggressive approach. Looking for bullish setups from the bottom of the consolidation.
Scenario 2 - Breakout above the consolidation zone, and only then looking for bullish setups.
If we get a valid breakout below this strong support zone then it would invalidate this bullish view.