Could be a nice setup on CADCHF Daily

FX:CADCHF   Canadian Dollar/Swiss Franc
Another possible H&S pattern. Broke down below the range its been in since 2015 late December just to shoot straight back into it early January. Seems like quite a bullish move to me with potential to move higher up into the range again and this gives more confluence to a potential inverted H&S in the making.
Comment: Price is now at neckline. Needs to make a positive break and retrace before I will enter trade.
Comment: Trade active. TP1: 75.645 ( 61,8% fib and resistance ). TP ": 76.685 almost 100% fib and resistance level.
Trade active:
Trade closed: target reached: TP1 reached. Stoploss to break even on second position
Comment: I have moved SL up to 76.072 which is 78.6% fib on last position.
Trade closed: target reached


Both trades closed.
TP1: 88 pips ( 61,8% fib )
TP2: 132 pips ( changed to 78,7% fib )
Nice trade with great R/R
Hope some of you following got in on the trade.
On to the next.
Now with the correct fibonacci levels ;-)
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter