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ZeonFx
Sep 12, 2020 2:25 PM

Rejection has occured Long

Australian Dollar/Canadian DollarFXCM

Description

AUDCAD could not pass 61.8% Fib level and the recent candlestick showed a rejection to the engulfing base meaning it may go higher. TP1 is at the premature level and if the price breaks the level (0.96360), there is a high possibility it will go to TP2.

This technique will decide when to take profit from the exact Fib level and know how to identify the premature level at which a false breakout may occur.
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