The 4h uptrend in USDCAD is broken with a strong first thrust lower. The lower high-lower low sequence indicates that the downtrend from the October high is still intact and the current upswing is rather a good short setup than a dowside failure. Now I am looking for a trendline break on the 1h chart.
USD/CAD: good level to sell?
This entry was posted on Friday, November 26th, 2010 at 9:35 pm and tagged with firstthrust, trend, USDCAD and posted in analysis. You can follow any responses to this entry through the RSS 2.0 feed.
Tag Cloud1stthrust 123pattern AlBrooks atr AUDUSD breakeven breakout confluence correction DAX doubletop ECB EMA entry EUR EURCHF EURGBP EURGBP pullback EURNOK EURSEK EURUSD exit fakey FED fibonacci firstthrust flag flow futuresmag GBPCHF GBPJPY GBPNOK GBPUSD GBPUSD pullback headandshoulders insidebar keltnerbands measuredmove mistake performance pinbar pivotlevel priceaction psychology pullback range recap reversal s&p500 setup stoploss strategy support tactics takeprofit trend trendline USDCAD USDCHF USDJPY
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