TRADING FOREX MARKET
The fact is that pattern exist is evidence of price manipulation, which in turn creates predictability that produces profitability for those who can see the patterns.
Greggory L. Morris
Thursday, February 11, 2010
CAD/CHF (-85)
cad overshoot runs into 78.6 fib. retracement on a weekly chart (1.0697 - 0.8497) This sudden move up is due for a retracement and stop is very small, so this particular trade is worth the risk from cost-benefit point. Stop at 1.0280 and limit targets are 10130 with the trailing stop once the point is reached.
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