USDCAD ~150 pip short potential

Happy Monday people! So my bias towards USD base pairs remains the same for this week. Last week we saw USDCAD work its way up as a nice retest to a previous zone that needed some more price action within. This would ensure that the movement remains healthy, as it would be abnormal to see a pair just move up or down with no retracements.

So to make a short story long, last week was the retest up and now we can expect to see a continuation all the way down to the gates of hell. This time of day is not ideal to enter trades, on any asset in my opinion, due to spread, swap fees, and the fact that price will usually consolidate and create liquidity until London open. So if you wanted to wait for another move up to mitigate risk, that would probably be good idea. But if you entered right now, its a 20 pip stop loss. So really its up to your preference. Just make sure to use proper risk management.