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Sublime_Trading
Jun 21, 2018 11:00 PM

Indecision on The USDCAD Long

FX:USDCAD1D
U.S. Dollar/Canadian DollarFXCM

Description

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Last post: June 20th.
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Review: Price had broken through and established a bull trend above the March high.

Update: Recent indecision in the market suggests the much needed pullback is a possibility.

Conclusion: Standing aside and letting price dictate a pullback or a trend continuation. A pullback is preferable.

Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments!

Sublime Trading
Trend AnalysisSupport and ResistancePivot PointsfxForexBullish PatternsUSDCADlooniepullbackpivottrendtradingtrendfollowing
Comments
NadineHe
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Very interesting post. If a pullback is preferred would this be traded using a pullback strategy?
Sublime_Trading
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@NadineHe, That is correct but as this is now going through a mini consolidation, a breakout will be the better approach.
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