Quote:
Originally Posted by jlmac27
Tonymand,I tried to upload chart,I believe it worked.What I have here is the USD/CAD.Does this look like a good place to go short? It is playing around an area of resistance,and candles are showing pattern for reversal,but the 60MA..???What is your take on this pair at this moment?
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yes you could trade this back to the 60SMA or whatever you use as your profit target. The safer trade though would be the next long off the 60SMA or fib retrace (again whatever you use) as this is a mighty strong uptrend. Until proven otherwise this is no more than a retrace. If it now formed a double top or lower high the we might expect a trend change
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Tony
"What we think we know is anchored only in our assumptions, not in the bedrock of truth itself, and that world we seek to understand remains always on the horizons of our thoughts" - George Kelly (1977)
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