CADCHF Falling Wedge 4HR
Updated
Showing on the CADCHF pair, we have a Falling Wedge pattern formed nicely.
However, we are not ready to trade until we break out.
Entry: After we break and close above the pattern.
TP: Pattern calls for 0.00809 * 0.62 chance of success = ~0.00501 form break point.
SL: Last swing low, currently estimated at ~0.6868
Estimated R/R: ~1.9-2.1
WIll update when pattern breaks.
Pattern info: thepatternsite.com/fallwedge.html
However, we are not ready to trade until we break out.
Entry: After we break and close above the pattern.
TP: Pattern calls for 0.00809 * 0.62 chance of success = ~0.00501 form break point.
SL: Last swing low, currently estimated at ~0.6868
Estimated R/R: ~1.9-2.1
WIll update when pattern breaks.
Pattern info: thepatternsite.com/fallwedge.html
Trade active
Waiting for this bar to close in 20 mins, then placing an entryOrder cancelled
Pulled back into pattern before confirmation. Will wait for breakout
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