USD/CAD Short opportunity - Patience is key!

This is a pretty nice short setup, but entry position and timing will be critical to avoid getting in a bad spot, or stopped out altogether.

We're approaching the resistance trend line above, which lines up with the "shoulder" height to the left. This could be a tempting place to short, but we need confirmation first. The highs of the trend line to the left are all possible points of reversal, which would mean we have a false breakout of the trend line to the upside, which I'm sure will stop out a few people who shorted too early. This is what I'm waiting for. Then wait for a sure sign that the bearish trend is continuing, and only then should you go short.

We have hidden bearish divergence indicating a continuation of the downtrend. MACD still has to close the gap and should cross over in line with the previous trend highs. Along with the strong resistance, this should be a great short as long as you enter at the right time!