Hi all. Here we have the 4-hour EURCHF chart with an analysis that signals further weakness in the pair. Let's cover them one by one: 1) Longer-term daily trendline resistance, 2) Horizontal resistance, 3) Rising wedge during downtrends (bearish), 4) 5-wave pattern inside the wedge completed. For a short entry, I would like to see a decisive close below the lower wedge line (1.131x). Profit target: mid 1.12.
Trade active
Amazing breakout on the 4-hour chart. Hope you got into this trade. Other setups from this week are also performing nice.Trade closed: target reached
Our TP has been reached.
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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.