Technician
Long

CADCHF: Bullish Reversal!

FX:CADCHF   Canadian Dollar/Swiss Franc
4961 views
29
A combination of pattern breakout and trend line breakout. The price could be forming a bottom following the breakout above the neckline of the Inverse head and shoulders pattern and the long term falling trend line .
The price is approaching 0.8212 swing high and potential horizontal resistance, where we might see a pullback from there for a retest of the broken trend line , neckline, which would be an optimum long entry around 0.8080-0.8100, targeting 0.8210 as first target, 0.8335 second and an aggressive one at 0.8525. I would limit my risk to 0.7960.

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Comments

wow great Setup! it was very useful!
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you have try
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What do you think now?
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ForceFollower metaldome
I don't know about Technician, but here's my chart.
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jerryblack7 metaldome
@metaldome, can you help me now
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Sound good, thank you.
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Thanks for the heads up on that. (No pun intended).
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Hey, dude, you got my secret out to the public. LoL ~ Great to have the expert confirmation. Beside, look at that monthly chart ~ I think I can hold this for 5-10 years. LoL ~
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alex.a alex.a
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alex.a alex.a
5-10 years is a joke... but at least a year. ^_^
Reply
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