EURCHF MARKET ANALYSIS 4H TIMEFRAME | DESCENDING TRIANGLE
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 reward ratio
Bear in mind this kind of pattern can also play as descending triangle reversal. So if price break upper trendline instead, i will take a long trade on this pair.
TRADE AT YOUR OWN RISK, SUPPORT THIS IDEA WITH A LIKE IF YOU FIND IT USEFUL :D
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 reward ratio
Bear in mind this kind of pattern can also play as descending triangle reversal. So if price break upper trendline instead, i will take a long trade on this pair.
TRADE AT YOUR OWN RISK, SUPPORT THIS IDEA WITH A LIKE IF YOU FIND IT USEFUL :D
Transaction en cours
Price breakout upper trendline descending triangle. Entry long at close of breakout candle. SL at previous low.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.