CADCHF Wedge Formation. Also Quick Sell Oportunity
Here we Notice a rising wedge formation.
Usually I have noticed it to be a price continuation...Meaning there is strong possibility that it should break towards the downside
I place either buy or sell options, For the times where it doesn't follow the usual downside I can still be in a buy. I make sure to add alerts to notify me when price breaks either on the upside or downside. Let us see what will come of it!
I measure the resistance to the support line around the middle of the wedge to give me a good range as far how much the price will either continue to drop or rise.
Usually I have noticed it to be a price continuation...Meaning there is strong possibility that it should break towards the downside
I place either buy or sell options, For the times where it doesn't follow the usual downside I can still be in a buy. I make sure to add alerts to notify me when price breaks either on the upside or downside. Let us see what will come of it!
I measure the resistance to the support line around the middle of the wedge to give me a good range as far how much the price will either continue to drop or rise.