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U-Shape Reversal? Possible Opportunity for LONG!
CAD/CHF
Long
Editors' picks
U-Shape Reversal? Possible Opportunity for LONG!
By Stethostrade
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Updated
Jul 21, 2020
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Jul 20, 2020
Last week, Swiss currency is the strongest of all and we expect it currently in its exhaustive phase in the coming weeks.
We could take this opportunity to capitalize on other currencies.
At weekly TF, CADCHF is trying to make a U-shape pattern and this would be a great opportunity for long with good risk to reward ratio.
This is a long term idea.
The whole setup is invalid if the price breaks the key level or 0.68870.
Jul 21, 2020
Trade active
Boom! Just Hit TP 1.
Now making pullback at monthly corrective channel @ lower TL before continuing the 3rd bullish elliot wave entering back into the monthly channel.
You can place your entry at 0.6940. Next TP is at TP2 with the same SL.
All the best
Jul 24, 2020
Trade closed: stop reached
Chart Patterns
Elliott Wave
Trend Analysis
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