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Thread: Fibonacci Trading

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#110 (permalink)

02-25-2008, 02:49 PM

Gregory McLeod Gregory McLeod is offline

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Join Date: Sep 2007

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Loonie Heading Lower

Quote:

Originally Posted by Gregory McLeod

Looks like the USD/CAD is setting up for a fall. Price has been turned back from the 61.8% retracement of the swing from 1.0386 High to the 0.9871 Low.

Only a close above the 1.0276 Level (the 78.6% retracement) would open up 1.04 and above. This could also lead to a full blown trend reversal.

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Looks like we have some follow through. A close below the trend line would be added confirmation.

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