Risky setup because price is already at major support zone. But descending triangle pattern is formed.
Descending triangle pattern is usually a continuation pattern. So i will look to take a short trade on this pair if the price breakout of support (black line)
SL 45 pips
TP 343 pips @ manual close when reversal is looking to happen/reached at least 1:2 risk...
Short opportunity on USD/CAD. Wait for price to make a momentum breakout of trendline & turning points before entering short.
SL 45 PIPS & TP 90 PIPS ( 1:2 RRR) | FIRST TP IS RBS ZONE, MONITOR PRICE AT THAT ZONE. IF BREAKOUT HOLD SELL. IF CRS FORMED EXIT TRADE
Why I want to take a short trade on this pair?
1. USD index is bearish @ going downtrend
2. All...
Symmetrical triangle formed at 4H timeframe of GBPCHF. Wait for a breakout to happen either uptrend @ downtrend.
Trade following which direction of a breakout occurs. Buy if breakout above triangle & sell if breakout below triangle.
TRADE AT YOUR OWN RISK. SUPPORT THIS IDEA WITH A LIKE IF YOU FIND IT USEFUL :D
Potential short opportunity on CHFJPY. Head & shoulder pattern is forming. Wait for price to break the neckline for short opportunity.
SL around 100 pips @ cut loss when price close back above neckline.
TP around 230 pips.
If price continue uptrend, analysis will become invalid.
TRADE AT YOUR OWN RISK. PLEASE SUPPORT THIS IDEA WITH LIKE IF YOU FIND IT USEFUL :D
