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U.S. Dollar / Canadian Dollar
Short

USDCAD: Channel Trading With Confirmation

By VasilyTrader
snapshot

USDCAD reached a resistance line of a major channel on a daily.

on 1H the price is forming a double top formation on its boundary.

to trade with a confirmation, wait for a 1H violation of 1.3216 minor support.

then short the pair.

target levels:
1.3186
1.315


in case of a new higher high formation, setup will be invalid
canadiandollarCurrenciesDouble Top or BottomForexParallel ChannelSupport and ResistanceTechnical AnalysisUSDUSDCADDJ FXCM IndexUSD (US Dollar)
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