Resistance holds strong for USDCAD

Earlier this week, I posted taking a short position on USDCAD on one of the two potential resistance level. Recapping to the trade, the movement is finally taking off. However, it is still considered under consolidation at the moment.

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USDCAD 4-Hour

Unfortunately, I did not short and hold all the way through this sell off. As my personal trading rule, I aim for a 50% movement or retracement. I do not believe it is a good time to short right now. Price will most likely test, bounce, and later retest the ascending trendline over the next few days to earlier next week even.

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