CADCHF is trading at all time lows area. Checking out the price action, the price is trading in a DAILY FALLING WEDGE PATTERN which is a BULLISH reversal pattern.
Once daily closes above the falling wedge, a LONG can be initiated on
1. Breakout of falling wedge,
2. Retest of falling wedge as support after the breakout
There is also BULLISH RSI DIVERGENCE, which shows downtrend is getting weak and trend may reverse soon.
This is a SWING TRADE.
But if daily closes back inside the falling wedge after the breakout, that would result in fake breakout/bulltrap and the idea will be invalidated.
Let me know in the comments section if you want me to analyse any other financial instrument.
WARNING:-
ALWAYS FOLLOW RISK MANAGEMENT AND POSITION SIZING WHILE TAKING ANY TRADE.
Once daily closes above the falling wedge, a LONG can be initiated on
1. Breakout of falling wedge,
2. Retest of falling wedge as support after the breakout
There is also BULLISH RSI DIVERGENCE, which shows downtrend is getting weak and trend may reverse soon.
This is a SWING TRADE.
But if daily closes back inside the falling wedge after the breakout, that would result in fake breakout/bulltrap and the idea will be invalidated.
Let me know in the comments section if you want me to analyse any other financial instrument.
WARNING:-
ALWAYS FOLLOW RISK MANAGEMENT AND POSITION SIZING WHILE TAKING ANY TRADE.
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免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。