#EURCAD
Please define what you call a fakeout?
A fakeout on a larger time frame will appear as a legitimate break of structure on smaller time frame.
And the bullish move we saw here, just seems to appear as a fake break of the structure.
I see the price moving in the channel and to continue its next impulse downwards.
The RSI shows in the over bought area and a divergence starting.
If you need a confirmation, i would suggest to wait for the close of the present 4HR candle and enter.
Good Luck
A fakeout on a larger time frame will appear as a legitimate break of structure on smaller time frame.
And the bullish move we saw here, just seems to appear as a fake break of the structure.
I see the price moving in the channel and to continue its next impulse downwards.
The RSI shows in the over bought area and a divergence starting.
If you need a confirmation, i would suggest to wait for the close of the present 4HR candle and enter.
Good Luck
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