Tuesday, January 20, 2009

Incoming Attack! Horde!

USD/CAD, 15m, Today

In the last few periods, there have been two consecutive flag formations. The second flag has yet to turn profitable. You can see here a consistent test of resistance at the 1.257 level. Uptrend is firmly in place, lows are getting higher, though the highs have been waiting to breach the resistance. Like infected zombies piling up behind a closed door. A testy hand claws and punches a hole in the door. You see hungry things outside baying for blood. Additional pressure will cause the door to blow right off its hinges, followed by the realisation of the flag maybe? Let’s wait and see.

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