USDCAD RIDE THE TREND

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Screenshot 2014-11-13 00.56.13

4HR CHART ON USDCAD WITH REAL VOLUME INDICATOR.

We can see that price is in a strong uptrend and we have a nice pull back to a previously well established support level. It also happens to coincide with 50% Fib Retracement level. The real volume indicator shows that there has been really low volatility, meaning a big break is coming. Lets hope its to the upside.  We also have a doji at support. So price action is at a really nice confluence level. Hence I am long from 1.1300 with stop at 1.1252 and TP at 1.4235.

 

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One thought on “USDCAD RIDE THE TREND

  1. zohaibayub85 says:

    CMP 1.1395 CLOSING THE POSITION. We have run into a resistance zone and the level seems to be holding. 95 pips profit.

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