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Short trade, price on daily has broken the trend line and now being tested as resistance on the H4. We got a bearish engulfing candle and break of trendline on H4.
TP = 1.06200 hit as despite a deviation, the 1W Channel Up (RSI = 55.270, MACD = 0.004, BBP = -0.0120) made a Higher High near 1.07500. With the Highs/Lows = 0 (neutral), we can assume that the Higher Low is already priced and that the Channel Up will seek a new Higher High on CADSGD. Long TP = 1.0700.
TP = 1.03200 hit on the previous 4H Rectangle with CADSGD extending the 1D Channel Up (RSI = 53.764, MACD = 0.003, B/BP = 0.0016), which as seen on the chart (also by the neutral Highs/Lows = 0) has just priced its Higher Low. This is the best place to go long with TP = 1.06200.
Head n Shoulder pattern combined and working nicely with the trendline analysis.
Head N Shoulder pattern forming nicely here also obeying the trendlines.
CADSGD is trading within a 1.0310 - 1.0400 Rectangle on 4H (RSI = 57.936, MACD = 0, ATR = 0.0023) and we will take advantage of the swings both ways. First trade, short, TP = 1.03200.
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