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Tecnologia_Financiera
Nov 9, 2018 1:39 PM

Symmetric Triangle on CADCHF 

Canadian Dollar/Swiss FrancFXCM

Description

In the chart of the CADCHF, in a four hours time frame we can see a symmetric triangle with three touches on the top bearish trendline and four touches on the lower bullish trendline. In case of a bearish breakdown, we can settle a short position with a stop loss near the lowest high at 0.7669 aproximately and a Take Profit similar to the vertical distance of the triangle at 0.7454 aprox. In a case of a bullish breakdown, we can settle a long positition with a stop loss near 0.7617 aproximately and a take profit near 0.7824 aprox., following the same criteria.
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