USDCAD short (Supply Demand, New Base)

2019-11-18 17:46:54

Price is currently at a Supply Demand Zone. We could still see a drop on USDCAD. The previous could be only a Fake Out.

New Base:
One reason why this fake out happened could be the new base. We could see how price formed a new base on the h4 indecision candle. Therefore this gives us a new opportunity.

2 Scenarios:
1) Long. Price will break through. Then Retest the SupplyDemand and starting to rise.
2) Short. Price will go down. Break the SupplyDemand. First look for the Retest and then take shorts.

Confirmation:
Wait for Retest before entering the Trade. My bias is short. But we will see.

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