Strong Reversal Pattern at USD\CAD

[ChartSecret]

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.

 

[poborsky]

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.

 

[ChartSecret]

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

 

[poborsky]

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.

no stop loss required