Posted by: joetradingplace | July 24, 2012

Interesting price Action

Just two charts to show how patterns normally repeats over and over…I have a chart of nzdjpy and audcad…look at the PA marked by circles on the nzdjpy, they are exatcly the same as PA marked on Audcad…these charts looks almost identical. So if history repeats itself, Audcad will pause and then drop from where it is now towards 1.0380 zone…

So how will i get involved…I will wait for price to form a minor R…if the minor R holds, i will take a short position with my SL above the minor R.

 

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