CADCHF Possible scenario
Good risk to reward ratio 250 pips
Big Bearish Harmonic Pattern in play with a small bullish pattern.
We might see it go down to .7200 for a retest before going up.
Double top is also present on the pattern.
Wait for a breakout and candle confirmation before entering.
". There is still a possibility of temporary retracement to the suggested resistance line (0.7465).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
. CADCHF is in a downtrend, and the continuation of the downtrend is expected.
. The price is above the 21-Day WEMA, which acts as a...
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After breaking the ascending triangle we began to see bearish momentum but that soon slowed down and now it looks like the price has failed to continue the downside and we are in the process of a structural shift indicating a potential buying opportunity.
COT DATA - 55% Short