Online:
Visits:
Stories:
Profile image
By FX Instructor (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

USD/CAD – Down trend in 4 hours chart

Wednesday, February 22, 2017 14:04
% of readers think this story is Fact. Add your two cents.

(Before It's News)

2-23-2017 1-22-35 AMTrend is bearish in 4 hours time frame. Vital resistance is present at 1.3211 price level. Price action has showed some signs of buying pressure and it looks like price is now going to move up to print Bullish Wave (B) leg. Wave (B) looks like a Zig Zag patten. So, wait for the price action to first print few bearish bars and then take a sell trading chance.

However; in case, price moves above 1.3211 key resistance level then down trend is going to fail. In such case, I would prefer to stop myself from trading and re-analyze the price action in USD/CAD currency pair.



Source: http://fxinstructor.com/blog/usdcad-down-trend-in-4-hours-chart-3

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.