The pair completed a bullish Bat pattern. I would want to see how this pair opens at the beginning of the week. We could potentially see a quick 50-60 pips bounce up to 0.8785/95
However this will be totally against the CAD strength we are seeing currently. See my related USDCAD post
Komen
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Market opened with a gap down. No trigger to trade yet
Dagangan aktif
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I am taking a risk, taking a small trade with very minimal stop loss. Took a long trade: - Down move seems exhausted - Forming a falling wedge - no confirmation yet Stops below the candle low at 0.8685 Watch out for the pattern PRZ becoming a resistance zone at 0.8740
Dagangan aktif
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Currently seems resisted by the PRZ at 0.8740. Now up about 28pips, can consider to move SL to breakeven to make it a risk free trade
Dagangan ditutup: hentian tercapai
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Price hit my protective stops. Out of the trade with +1pip profit.
As expected, price did indeed get resisted at pattern PRZ 0.8740. was hoping it could break higher