My Ironclad Rule

"It's not how many pips you make, It's how much risk you take"

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Wednesday, March 31, 2010

USDCAD : Bullish Butterfly


This pattern I found in 15-min chart. It might not be so powerful but who cares. The market is now trading in the 1.27 XA price zone which is at 1.0134. Will this zone be a near term reversal? By the way I'm anticipating further drop until 1.0113 at 1.618 XA.

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