Two possible outcomes of price action inside of ascending channel. If price continues with up trend there will be long opportunity at the bottom of regular flat correction. If price breaks ascending channel I will be looking for short entry.
Note
This is monthly view of NZDCHF. We can see that price is making down moves so this could be potentialy end of side ways correction and start of new impulse to down side.Note
Price finally broke down the ascending channel. Now we should see another down impulse and short opportunity.Note
On 15 minute time frame we can see leading diagonal in conjunction with very strong RSI divergence.Note
Sell break out. Impulse on the way.Note
Price completed rising wedge correction pattern at 61.8% retracement of previous impulse. Now we should see more down pressure and shotzing opportunity.Note
4 hour time frame.Note
Sell the break out.Note
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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.