Broadening Megaphone in USD\CAD, 5-minute Chart

Submitted by ChartSecret.com on Tue, 07/07/2009 - 07:17
in

Broadening Megaphone Chart Pattern at the USD-Canadian currency pair. Pattern is reliable as its Support and Resistance levels have been tested for 8 times in total. Pattern is 35 pips in size, so we will be careful when entering, to be sure that the Risk:Reward is more than 1.5.

Trades
Short trade will be taken after breakout of Support level and when price Pulls back.