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Techchartist 27-01-2017 19:40

FX Trading Ideas
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You have the current USDCAD Daily on 27/1/17 chart showing a classic butterfly pattern. The price is currently moving down to the last point D, to complete the setup. If this point is met chart theory suggests you can get a Fibonacci retracement of at least 38.2%.
This is an extension pattern that uses specific Fibonacci ratios to validate the structure. This trade gives better than a 4:1 risk ratio with a potential 2.3% gain.

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