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.