USDCAD is observed bearish on the H4 timeframe, and incidentally the area that I marked was bearish engulfing.
This means that the sell signal is valid to continue the decline to the bottom at the price of 1.29800 If you look at the pattern, you are actually making a downward correction then continuing upwards.
So we have two good buy and sell momentum. To buy, we have a target in the closest supply zone in the price area of 1.31300.
Sell now
Take profit 1.29800
Stop loss 1.31000
Buy 1.29800 limit
Take profit 1.31300
Stop loss 1.29400