Hello. here we have cadchf which was trading in a channel for the paslt couple of weeks should. Tried to break the lower trendline but then retraced from the demand at bottom creating a nice falling wedge. my target is up at the previous supply. and stop loss just below the previous low
Hello so more than a couple trading scenarios presented themselves to me i couldnt really fit all in one without making it too clumy so had to break it down in two charts instead so on chart 1 i have a couple of wedges all signifying downtrend last week usdchf broke a channel that was going on since june and might further go down by the looks of it it all depends...
All information on the chart
Falling wedge with supply at the top
supply with a rising wedge and demand at the bottom of the wedge
Rising wedge formation with demand at the bottom
Hie everyone, here we have two wedge patterns that presented itself to us.
another trade presented itself, very good shorting opportunity imo 1) Supply on top 2) Rising wedge 3) Target is also the demand zone at the bottom 4)38.2 fibs is the target