USDCAD - A possible Bull run

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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.

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ملاحظة

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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ملاحظة

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

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ملاحظة

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

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ملاحظة

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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ملاحظة

Keeping a watch for 30m, Finally a BOS.

once market formed a HL will update for a entry.