Descending Triangle on GBPCHF
The price makes a high and a lower high that we can trace a trendline. The price hit the support line two times. So, the price expected to pull back to the trendline and breakout the support. You can set a sell limit on the trendline or set sell stop under the support line.
Target: Why I set the target on 1.18080 is because the Demand areas on the left side; grey boxes; are already broken by the pullbacks. So the price may reach less than 1.18080. However, I set it higher because (for me) 1.18000 is a round number. so I expect that the price will take any order at the level then the price will go up again.
*Sorry if this is not clear enough for you.*
*For education only*
*Take you own risk*
Target: Why I set the target on 1.18080 is because the Demand areas on the left side; grey boxes; are already broken by the pullbacks. So the price may reach less than 1.18080. However, I set it higher because (for me) 1.18000 is a round number. so I expect that the price will take any order at the level then the price will go up again.
*Sorry if this is not clear enough for you.*
*For education only*
*Take you own risk*
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