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usera9
May 5, 2014 9:40 AM

Waiting for a short setup 

British Pound/U.S. DollarFXCM

Description

The candle pattern formed Friday is a very small dark cloud cover at a monthly res level (red line)+ rising diagonal res line.
A lot of former res now supp zones (red arrows - light blue rectangle) make this setup not so attactive from R:R point of view. Also to be considered the small bull channel and the ascending diagonal supp line).
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