CADCHF made a double bottom in the daily timeframe hitting a very strong weekly support level.
Setup two buy positions aiming at top of first range bound price action around 0.6800 and second level range resistance at 0.6936. Monitor to see reaction to long-term trendline coming from May 2022.
Setup two buy positions aiming at top of first range bound price action around 0.6800 and second level range resistance at 0.6936. Monitor to see reaction to long-term trendline coming from May 2022.
Trade active:
Opened 2 buy positions, exactly as it is in the graphical analysis, with the referenced TP and SL levels.
Trade closed: stop reached:
Both trades closed at breakeven as SL were moved to just above entry point when price was 20 pips + and before it retraced all the way back. Price is now nearing strong weekly resistance. Will keep an eye on price action for potential entry signals.