The price has moved out from the long term down trend channel top channel line and a short term triangle pattern.
Further, inside the long term down trend channel, it has completed a five wave movement.
So It could start a break out to North.
The middle term ideal take profit area would be the 0.618 retraction level at 2024 May.
If the price moving back to the down trend channel area and breakout the triangle pattern bottom line, then, we need to stop the long trade.
Further, inside the long term down trend channel, it has completed a five wave movement.
So It could start a break out to North.
The middle term ideal take profit area would be the 0.618 retraction level at 2024 May.
If the price moving back to the down trend channel area and breakout the triangle pattern bottom line, then, we need to stop the long trade.
Trade closed manually:
Close with loss since CAD/CHF stop out. CHF is strong now