Wednesday, October 2, 2013

USDCAD Price Action: Closing Price Reversal gets further bullish confirmation

The beauty of trading Price Action in the way that I do is that you don't let emotions get in the way, you simply trade what the charts say and in-line with that, the USDCAD's Price Action points to the expectation of further bullishness. Traders do get a little confused and try to chase the market with every formed Price reversal-like Patterns but there is always an over-riding Price pattern. The Closing Price Reversal as indicated above is the over-riding Price Action Pattern in this chart and remains valid for more bulls unless its low is bridged.

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