NZDCHF - In Bearish Trend
Updated
NZDCHF was in bullish trend earlier (1H Time-Frame) and made a Reversal Pattern of Rising Wedge. The chart had a breakout in the reverse direction making it in a bearish trend. At the moment with 5m time-frame, the chart is making a Continuous Pattern of a Rectangle and probability of bearish breakout is possible. No divergence is observed. Pending order of Sell Stop is placed.
The Signal is:
EP: 0.54492
SL: 0.54607
TP: 0.54380
RR: 1%
Lots: 0.80
The Signal is:
EP: 0.54492
SL: 0.54607
TP: 0.54380
RR: 1%
Lots: 0.80
Trade closed: stop reached
Rectangular continuous pattern didn't play well in 5min time frame.
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.