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patterntrader

USDCAD: Flags are Zebra Lines Along the Price Highway

Short
U.S. Dollar / Canadian Dollar (FX:USDCAD)  
patterntrader Updated   
FX:USDCAD   U.S. Dollar / Canadian Dollar
USDCAD usdcadshort Flag usdcadforecast usdcaddaily
10
2
usdcad usdcadshort flagpattern usdcadforecast usdcaddaily
Flags happen to pause the direction of the trend. However, after the break it will continue in the same direction of the main trend. I wait for the flag to break downwards.
Comment:
Price broke out of the channel. I will wait a couple more days before taking short position.
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