EURCAD Correction Set-up

Price is below the 1.27 extention the the 1hr and 4 hr charts, after a very shallow retracement.

I am looking for a correction to come on this pair.

Rules for entry:
1. swing low formation
2. trend line break.

If these two rules are met, I will enter this trade and take it to the 38.2 retracement level.