Wednesday, August 25, 2010

Is USDCAD ripe for short?



I am currently watching USCAD for short. For the other majors that I don't trade regularly, I look for set-ups in the daily chart. The daily is getting ripe for short, but the signal is not there yet. The next 2-4 candles will determine the direction. The two major resistance areas on the daily chart will give the signal to sell for an appreciable drop. I attach two charts to clearly illustrate the point.



Enjoy your trading!

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