USDCNH to 6.66? 😈Please 1st of all click the boost 🚀 button if you want me to post more ideas and follow me to support my work! It's absolutely for free.
After a long run up...
the USDCNH probably found the top for a while. Price formed Head and Shoulders 🤷and broke the Uptrendline and then also the Neckline @ 7.01, backtested it and got rejected. Also there is bear flag in play with target 6.686, we have just broken out of it's consolidation phase:
So in my eyes a downtrend has been established and I think there is chance for run to 6.66 .
STOPLOSS (SL) : Right Shoulder @ 7.26
TARGET (TP) : H&S target projection @ 6.66
INVALIDATION : when SL level hit
Check my other stuff in related ideas.
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⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.