Here is an example of a USDCAD (4HR TF) confirmation buy, using currency basket comparisons. The 2 EMAs I'm using are the 8 & 15. Important Note...when the pairs are reversed, I switch the color of the candles to make it easier to reveal Weakness/Strength. So for instance, if I'm trading USDCAD...on the USD baskets where USD is first, the bull candles are Silver and bearish candles are Black (regular). However, when USD is second, like EURUSD, the Bearish candles are SILVER (showing USD Strength) while the bullish candles are Black, showing EUR weakness.

You can see how a good entry would have been on Tuesday, when CAD was weak across 7 currencies and USD was Strong across 7. Of course there are better ways to have faster entries, but this perspective can show you which currency pairs to trade or avoid and when to enter the market. Your entry and exit strategy is up to you, but NO ONE should trade without FIRST considering this model. And you can use this same strategy on any TF, however, the shorter TFs may present more noise and inconsistencies. And if anyone can improve on this setup, please share!

Hope this helps!

P.S. I placed the wrong chart. It was suppose to be USDCAD, not AUDCAD.