It looks like CADCHF is forming an inverse head & shoulders formation on the 4hr time frame.
We also have strong bullish divergences on the RSI and MACD.
Confirmation of the inverse H&S will be a break and a close above the neckline.
If it does break out, I will be targeting the 0.71300 area to close out the long.
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We also have strong bullish divergences on the RSI and MACD.
Confirmation of the inverse H&S will be a break and a close above the neckline.
If it does break out, I will be targeting the 0.71300 area to close out the long.
Please leave a like if you found this useful!
Trade active
Comment:
This trade is still active. The bounce we are seeing now is a good sign that he shoulder lows are holding. Obviously pattern needs to be confirmed by break and close above neckline still