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US Dollar/Chinese Yuan

Multiple Triangles on USDCNH

By lukaszkunatrader
Updated
See the chart for the breakdown of the triangles. They would play very nicely into each other. Will be updated, with targets if breakouts occur.
Trade active
Trade on 1 hr candles is active. Target price is 6.805
Trade closed: stop reached
Stop reached on the left side, it was a poor breakout without a retest of the angled support.
Trade active
Watch for retest of the resistance as a support on the longer time frame. 6.91 still the the target there.
Note
Some ideas about this breakout and target for once the trade is active
snapshot
Trade active
We have seen a nice retest of the previous resistance as a support, and the price is near the bottom of the linear regression channel, as well as fairly low on the SRSI:
snapshot
Trade active
We have our pullback and a low SRSI on both 4 hrs and dailies. A tight, but moving stop is suggested here.

snapshot
Chart PatternsTrend Analysis
lukaszkunatrader

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