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⚠️ USDCAD growth after a false breakout

Long
FOREXCOM:USDCAD   U.S. Dollar / Canadian Dollar
The price began to fall from the resistance of the falling channel (June 2020) 1.266.
During the fall, it broke through the resistance line 1.233.
It fixed on it and broke through the border of the channel 1.220.
Now the price has reversed and started to rise, and I expect the test to be false.
I expect the price to be:
1 - will break through the line 1.219 and return to the channel.
2 - will fix on it at the point 1.215.
3 - will rise to resistance.
The goal is 1.230.


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Comments

On the larger timeframe, you can see that around 1.206 there is a strong support level. Therefore, I believe that the price will first fall to this level and only then will it start to rise.
+1 Reply
These next few 4hr candles are going to say alot
Reply
DeGRAM arthurwolff1
@arthurwolff1, Yes, let's wait.
Reply
@DeGRAM, let me know when you pull the trigger. I'm seeing alot of buyers at 1.208
Reply
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