Apr 14 2009
Usd/cad - Break of the triangle . A nice trading oportunity
Pull out your usd/cad chart .
Go to weekly chart .
You can now draw two trendlines one that is horizontal joining the highs of last 6 weeks and draw other trendline joining the lows of the last 6 weeks.
Now you can see an ascending triangle there .
What do you see now?
We are having a break of it from a lower trendline which gives us a great trading opportunity .
We must wait for a pull back to daily trendline to enter in this trade .Once a pullback confirms that price has nicely broken and retested the trendline then we hold for this trade till we hit first target of 1.1900
This is great trade with small stop loss and large take profit target!
Happy trading..







































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