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Strong Reversal Pattern at USD\CAD
This is a discussion on Strong Reversal Pattern at USD\CAD within the Forex News & Analysis forums, part of the Forex Markets category; 1. Precise Wedge that was confirmed by price many times. 2. Price stopped exactly at 38.2% of the trend - ...
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Jun 28, 2009, 2:25am
| #1 |
| Rookie Join Date: Jun 2009 Posts: 24
 |  Strong Reversal Pattern at USD\CAD
1. Precise Wedge that was confirmed by price many times. 2. Price stopped exactly at 38.2% of the trend - indicating that this may be just a retracement. Short entry will be made if price stops again on the 1.1600 Signal taken from: Bearish Reversal at USD\CAD, 4-hour chart | ChartSecret.com Good Trading. |
 
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Jun 28, 2009, 3:33am
| #2 |
| Veteran Member Join Date: Oct 2008 Posts: 565
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I have been trying to find a long entry on this, but so far its respected the trend line having taken out resistance around 1.1450. I have a first target of 1.18. If support fails at 1.4550 I will look for short plays after a retest with a first target of 1.08. Could be a very interesting week. |
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Jul 1, 2009, 9:55am
| #3 |
| Rookie Join Date: Jun 2009 Posts: 24
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Short trade occurred after Evening Star candlestick formation confirmed the second touch of resistance, so far: 100 pips profit.Source: Wedge Short Trade | USD\CAD | ChartSecret.com +80 Pips | USD\CAD Trade Update | ChartSecret.com |
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Jul 1, 2009, 12:13pm
| #4 | |
| Veteran Member Join Date: Oct 2008 Posts: 565
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