Discussion in 'Forex Trading' started by Masterchanger, Feb 19, 2010.
There is a bearish trend developing on USDCAD pair.
I can see two scenarios here – the basic (1) and alternative (2).
So you suppose that prices may go up or down 50/50? Good analysis thanks
Depends on but to predict from daily, you need something else to guess.
There is also a way to guess whether prices have hit top ...
have a look at dictionary on patterns that talk about bottom/top.
That pattern appears in 15min and 30 min charts when prices hit top/bottom.
Right now, I can’t see the entrance for opening a deal on the asset, so I’ll wait until the price reaches one of the levels, and then I’ll make a decision.
I’m having a little loss right now, but I think I’ll close the deal with profit.
The price went not as I expected, but nothing bad happened because the stop order had been triggered. This transaction didn’t harm me much.
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