EURCHF MARKET ANALYSIS 4H TIMEFRAME | DESCENDING TRIANGLE
Aggiornato
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
Trade attivo
Price breakout upper trendline descending triangle. Entry long at close of breakout candle. SL at previous low.
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