USDCAD False-breakout Trade +118 Pips

USDCAD H1Like I wrote in the previous post about USDCAD, there was an high chance of a false break-out of the 1.253 resistance due to the weak background, and previous supply signals at that level, meaning it was a likely distribution level. The candle that took prices above the resistance, yet closed below it, due to selling pressure, was a good confirmation of the false break-out and hence a good spot to short. Closed the trade after 2 bullish congestion zones.

1 comment

Donny said:

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June 15, 2015 at 8:45 am

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