Live Forex Trade on the USDCAD 4 Hour Chart

By | May 14, 2016

Posted May 14, 2016 This trade followed a stop hit pattern that formed at the most recent bounce point that established a level of resistance. This level was a major bounce that the market pulled away from considerably therefore, we can expect investor interest when the price returns here. The price pushed through the level causing a false break out as well as triggering stop loss orders from investors that had previously went short here on the first bounce. Following the stops being hit the market falls off and engulfs triggering a sell order.

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