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21st July 2009, 06:29
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Channel Pattern - 130 pips | EUR\GBP
An Ascending Channel chart pattern is present at the EUR\GBP, at 4-hour charts. Pattern's size is 130 pips. Can be also interpreted as a flag - indicating a movement down and a continuation of the down-movement. Trading rules remains the same for Channel as for Flag.
Trading SHORT Trade will be signaled after price breaks down the Support trendline and performs a pullback. Target Calculate 130 pips lower than the breakout price - this is the projected target. Source http://www.chartsecret.com/content/a...pattern-eurgbp 
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