CADCHF 240 Ascending triangle pattern is forming

Jun 19, 2019

I didn’t see where anyone else had identified this triangle yet. I not sure what strategy to look for yet since it is a downtrend since 23 April 19. Possible long breakout would be expected, although that would reverse the downtrend. That would be consistent with the HL on 18 June 19 if that pans out.

Jun 22, 2019

Note

With the breakout at the bottom of the triangle and retest as resistance, I expect the downtrend will continue. Solid continuation of the RSI downtrend also occurring. Just another example of a bull triangle (flat on top) breaking out to the bottom instead. Looks like the sellers won this round.

Jul 1, 2019

Note

Looks like the triangle may not have been valid to begin with. Not sure where to go with this, but will give it some thought.