We saw a MAJOR Inverse Cup and Handle on CAD/CHF.
And when it broke down, we were too optimistic that downside would prevail.
In the interim, a Symmetrical Triangle was forming instead.
The prior trend was down, the Symmetrical Triangle is sideways, and it would be wrong to say the price is going to just break down.
By probability yes, the price does tend to break below according to the prior trend. But if CAD picks up, it could very well break up. We just have to wait for the APEX and then the break up or down.
My bet and according to the analysis, remains DOWN.
Let's see how it plays.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
And when it broke down, we were too optimistic that downside would prevail.
In the interim, a Symmetrical Triangle was forming instead.
The prior trend was down, the Symmetrical Triangle is sideways, and it would be wrong to say the price is going to just break down.
By probability yes, the price does tend to break below according to the prior trend. But if CAD picks up, it could very well break up. We just have to wait for the APEX and then the break up or down.
My bet and according to the analysis, remains DOWN.
Let's see how it plays.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.