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AdamHong
Oct 24, 2016 3:21 AM

USDCAD:The Wedge Long

U.S. Dollar/Canadian DollarFXCM

Description

The upper edge of the wedge is breaching in daily chart.The MACD is moving above the 0 axis and the fast line is poking the slow line,in other words a golden cross is completing.
If the breakthrough of the wedge is vaild,it is a good chance to buy long when the market pulls back the breached trendline.
SL:below 1.300
Tg:1.400 and further more

Comment

The market is still struggling at the upper edge,and if the market cannot break through effectively,short positions can be opened and target to 1.303.

Comment

The market has broken out the wedge already,and it moves as expected.
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