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Technical Analysis
Channel Pattern - 130 pips | EUR\GBP
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[QUOTE="ChartSecret, post: 3987, member: 2471"] 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. [b]Trading[/b] SHORT Trade will be signaled after price breaks down the Support trendline and performs a pullback. [b]Target[/b] Calculate 130 pips lower than the breakout price - this is the projected target. [b]Source[/b] [url]http://www.chartsecret.com/content/analysis-channel-pattern-eurgbp[/url] [/QUOTE]
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