#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