CADCHF DAILY CHART (17 MAY, 2016)
Bullish Engulfing formed at the channel support. Notice in the daily chart above, we have a market that is making higher highs and higher lows, this represents a ascending equidistant channel. We looking for a chance to long the pair to trade with the direction of the equidistant channel. Once the long is trigger, we would set our target at the latest horizontal resistance.
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