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Possible UCAD long

UCAD reached parity level, couldnt go deeper………. seems 1.0000 GREAT psychological number proved support and we can see on daily with our special candle formation formed. a deep low, lower than previous day low and a massive rally by bull to have its close higher than yesterday’s close and finally a MACD divergence seen. all these put together gives us an idea of possible bullish rally

1HR: price broke the longterm bearish trendline, formed a high. we are looking for a retracement back to retest the trendline with a good bullish candle stick confirmation for entry/ 1.0005-1.0018 level .

stop lossLoss at: 0.9966

stop shd be moved to break even when price hit 1.0055

t1=1.0105

t2=1.0200

mike

My name is Fowope A. Mike, a mathematician and teacher, who has worked in one of the leading banks in Nigeria for 8 years. I started trading the Forex two and half years ago. I am a chartist, who vehemently believes in 'Trading what you see on the chart'. My trading concept is looking for convergences at important levels. I employ harmonic patterns, multi time frame analysis, trendlines and fibonacci retracements as my trading tools. I am a contributing editor for currency market column of stock watch magazine in Nigeria.

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