Hi Peeps,
Price has clearly broken the trend line channel. I personally think this is a long bias as there is a strong support @ 0.6880. If it manages to break this support, the bias will be a short and the buy stop of 0.6950 which i placed will not be triggered in the first place. If price do manages to trigger my buy stop order, there will be a good risk to reward ratio of 2.5 to my TP target being 0.7200. ;)
Disclaimer: This is not an investment advise but rather my thoughts on the price movement for CADCHF . Do share your thoughts and your feedback about my analysis :)
Cheers
Pips Punk
Price has clearly broken the trend line channel. I personally think this is a long bias as there is a strong support @ 0.6880. If it manages to break this support, the bias will be a short and the buy stop of 0.6950 which i placed will not be triggered in the first place. If price do manages to trigger my buy stop order, there will be a good risk to reward ratio of 2.5 to my TP target being 0.7200. ;)
Disclaimer: This is not an investment advise but rather my thoughts on the price movement for CADCHF . Do share your thoughts and your feedback about my analysis :)
Cheers
Pips Punk