DavoodWadi

The Symmetrical Triangle Broke At The Projected Time Zone

FX:CADCHF   Canadian Dollar/Swiss Franc
73 6 0
Hello everyone,

I've already had couple of Trade Ideas during the formation of the Triangle.

Now it has broken to the upside as expected and is going to act as the "C" wave of the huge corrective wave in the weekly time frame.
It has a high probability to be the "C" wave especially because it is followed by a Triangle and as you know, the Triangle comes before the last wave in a series.

What I like to mention here is the little "Yellow Rectangular Area" which has been on my chart since the establishment of the Triangle.

If you wonder what it is, it's simply an area I came up with using Time Relationships using Fibonacci numbers and ratios.

Now look how perfectly it anticipated the Time of the turning point in the Triangle and the start of the 1st wave of the new impulse.

If you have any questions regarding my analysis please comment below.

Have a good weekend.
Davood Wadi.
do you think that 0.86x will be broken?
I think 0.86 will act as a supply zone, and the pair will go south slowly.
+1 Reply
DavoodWadi MertErten
Hi MertErten,

Would you kindly give me your chart so that I know which 0.86 you're talking about?
+1 Reply
MertErten DavoodWadi
Hey DavoodWadi,

Though I use tradingview for only Renko screening, I tried to explain it here:

CAD/CHF D1 (insane R:R)


Have a nice weekend.
+1 Reply
DavoodWadi MertErten
Your analysis could definitely be true.

I tried to add on to your chart what could happen if we get a double top here.

It will be a failed C wave in the corrective ZigZag which is pretty common.

I wish you a nice weekend too MertErten!
+1 Reply
DavoodWadi DavoodWadi
snapshot
+1 Reply
MertErten DavoodWadi
Not bad, but CAD is strong ;)
+1 Reply
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