CAD/CHF has formed an upward sloping channel since late October. Currently the price is in an area of potential short-term reversal.
We want to make sure that the price is actually bouncing off the trend line, so wait for a 4H candle to close above the confirmation line before entering the trade.
Consider Resistance 1 and Resistance 2 as potential profit targets. Resistance 1 is placed at the most recent high, while Resistance 2 is placed at the closest round number. Patience is a virtue.
We want to make sure that the price is actually bouncing off the trend line, so wait for a 4H candle to close above the confirmation line before entering the trade.
Consider Resistance 1 and Resistance 2 as potential profit targets. Resistance 1 is placed at the most recent high, while Resistance 2 is placed at the closest round number. Patience is a virtue.
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