After reviewing the close of yesterdays daily candle, i am feeling very with USDCAD for many reasons:
- Firstly we have a candle
- Secondly, the price failed to close below the previous lows (daily level -15/12/20), potentially trapping any shorts.
Therefore if we look for an entry on the H1 we can see some structure that we can trade off.
We have the , a nice flip point of and its at the daily ATR.
I have similar set up on the GBPUSD on this.