USDCAD - A possible Bull run

An expected consolidation on 4H. Since market had a massive sellers momentum, for a change of trend or any bull move, a consolidation is expected. Moreover on the chart, On 4H we can catch the LL to LH move. But, for now it is a bit risky to take the buy since on 1H market is failing to breakout.

1H - Market Fails to Make new LL and Rejecting the major key zone for 3 times, which is our Weekly key zone as well.
All we need now is a breakout on 1H or if 30m Break structure and forms the first HH and HLs, then it would be a clear trade for long position.

Note

Here is our weekly keyzone. Market had effective reaction to this zone many times in the past.
Also our Weekly is on a uptrend, looking for a good area to form a HL and start the BULLISH RUN.

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Scenario 1 is playing our for now. keeping an watch for our buy opportunity.

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Market is finding some rejecting at support level. is there enough buyers or will it break to the below support? let's see

Note

Market did play out as scenario 1.

this is a great example of not entering the market right at zone which could break the support as its happening.

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Keeping a watch for 30m, Finally a BOS.

once market formed a HL will update for a entry.

Capitalflowsam

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Capitalflowsam