EURCHF: bullish reaction to long-term triangle pattern?
EURCHF just hit the support line of a triangle coming from the Oct 2022 and May 2023 lows, this is also a confluence support level with lows from Jul 2022 and Nov 2022.
Probilities are on the side of a reaction to the upside but will only be confirmed with proce action in the next few hours.
Just opened a small long position. If price holds and forms an engulfing bar or a bullish pin bar on the hourly or 4 H chart, will reassess and add to the position. If price breaks level and closes below the 0.9680 level, that will invalidate the reading.
Probilities are on the side of a reaction to the upside but will only be confirmed with proce action in the next few hours.
Just opened a small long position. If price holds and forms an engulfing bar or a bullish pin bar on the hourly or 4 H chart, will reassess and add to the position. If price breaks level and closes below the 0.9680 level, that will invalidate the reading.
Trade closed: stop reached