Hi fellows, USDCHF is forming Trend reversal Pattern on 4HR time frame. Don't buy from current price watch for buy as much lowe as you can for good risk reward ratio. If you remember that GBPAUD or CADCHF then you remember that how to trade on this TRP. Good Luck fellows.
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Pay attention at the bottom fellows. If it is not going to break up then watch for bottom.
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If you dont remember the GBPAUD fellows. Then watch on this post.
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CADCHF is an other example fellows.
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Channel is broken very strong move.
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The bullish wave was so strong. Price is at the trend reversal point and testing the trend line Watch for breakout. Buy setup only gonna form for more adding once price leave the trend line and form the TCP out side the Falling wedge.
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Watch upper trend line. For any further buy we need TCP. If we dont see TCP then price can fall back in the Pattern again so careful fellows.
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Watch short term trade up to bottom and then look for upside.
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Buying without valid TCP gonna give you failed breakouts. So always wait for a proper TCP completion and then look for Breakout setups.
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Watch bottom for price action for upside. No early buying it is bearish currently.
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suavih
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hey so it broke below ? pattern changed? thanks
Walentine
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VarisSvard
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I'm looking at this right now. What do you think about opening 2 positions in short and long with tight stoplosses. I think this will go up more.
Wave-Trader
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@VarisSvard, Yup we are aslo looking for upside but we will add more once we will see TCP