CADCHF Falling Wedge 4HR
Showing on the CADCHF pair, we have a Falling Wedge pattern formed nicely.
However, we are not ready to trade until we break out.
Entry: After we break and close above the pattern.
TP: Pattern calls for 0.00809 * 0.62 chance of success = ~0.00501 form break point.
SL: Last swing low, currently estimated at ~0.6868
Estimated R/R: ~1.9-2.1
WIll update when pattern breaks.
Pattern info: thepatternsite.com/fallwedge.html
However, we are not ready to trade until we break out.
Entry: After we break and close above the pattern.
TP: Pattern calls for 0.00809 * 0.62 chance of success = ~0.00501 form break point.
SL: Last swing low, currently estimated at ~0.6868
Estimated R/R: ~1.9-2.1
WIll update when pattern breaks.
Pattern info: thepatternsite.com/fallwedge.html
Trade active
Waiting for this bar to close in 20 mins, then placing an entryOrder cancelled
Pulled back into pattern before confirmation. Will wait for breakout
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.