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Meru
Nov 22, 2015 7:59 AM

GBPCAD SHORT Short

British Pound/Canadian DollarFXCM

Description

Daily candle inside the kumo suggest consolidation mode. Last three candles give us an approximate triple top and it ties up with kumo resistance and trend line resistance.Break of red trend line and break of RSI would be favoured for a short.Bottom of the kumo cloud or the trend line would be the initial target.Stop can be placed few pips above the major resistance.
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