Monday, November 12, 2012

USDCAD Head-and-Shoulder Trade USDCAD Head-and-shoulder Short Trade`
USDCAD pair is making out a head-and-shoulder pattern on hourly timeframe. 

Neckline is resistance-turned-support. And a break below it should accelerate down move. 

If this pattern is to carve out well, then price should go high max 10/15 pips and then to the neckline. I plan to short the pair at 10/15 pips above the parity and also on a break of neckline.

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