USDCAD IDEA
My thoughts on two alternate ideas:
IDEA 1 - If it breaks the support zone and the trendline it would go lower to the next zone which is either at the 38.2% or around the 61.8% on fibs (that's more long term those levels as I did the fibs a bit wider, however even if I did a smaller fibs the zones I drew out will still be around key levels).
IDEA 2. If it instead respects the trendline and pretty much the support zone then it can go to test the resistance zone. Also I did a counter trendline as that could be a possible confirmation for it to go higher plus a possible entry once it breaks and then retests. If it gets to the resistance zone at the top, breaks wait for the retest there and there's a good possible entry.
When it does break the zone that's when you drop down to the lower time frames to get more precise entries on the retest
IDEA 1 - If it breaks the support zone and the trendline it would go lower to the next zone which is either at the 38.2% or around the 61.8% on fibs (that's more long term those levels as I did the fibs a bit wider, however even if I did a smaller fibs the zones I drew out will still be around key levels).
IDEA 2. If it instead respects the trendline and pretty much the support zone then it can go to test the resistance zone. Also I did a counter trendline as that could be a possible confirmation for it to go higher plus a possible entry once it breaks and then retests. If it gets to the resistance zone at the top, breaks wait for the retest there and there's a good possible entry.
When it does break the zone that's when you drop down to the lower time frames to get more precise entries on the retest
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