Something a little complex heading into the month end week for UCHF. An interesting prolonged corrective structure
formed before breaking to the downside and out of a symmetrical triangle. Market has also broken below what seems
to be a mass psychology level at price 0.95000. This level provides an invalidation level for the bearish symmetrical
triangle we are currently in but is also now a strong resistance level, hence my stop loss is being set above it.
Expecting to see an entry emerge with the new week. Have a blessed and productive weekend ahead.
If you enjoy this setup, do let me know in the comments below, and I would warmly welcome your perspectives as well.
Stay tuned for chart updates below as the week goes along.
formed before breaking to the downside and out of a symmetrical triangle. Market has also broken below what seems
to be a mass psychology level at price 0.95000. This level provides an invalidation level for the bearish symmetrical
triangle we are currently in but is also now a strong resistance level, hence my stop loss is being set above it.
Expecting to see an entry emerge with the new week. Have a blessed and productive weekend ahead.
If you enjoy this setup, do let me know in the comments below, and I would warmly welcome your perspectives as well.
Stay tuned for chart updates below as the week goes along.
Trade active
Note
Note
Price broke straight through the ascending trendline without providing a retest of the pattern.
Note
Note
Entry price approached
Note
SL moved to break even upon market closure
Note
Target 1 reached.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.