CADCHF 240 Ascending triangle pattern is forming

١٩ يونيو ٢٠١٩

I didn’t see where anyone else had identified this triangle yet. I not sure what strategy to look for yet since it is a downtrend since 23 April 19. Possible long breakout would be expected, although that would reverse the downtrend. That would be consistent with the HL on 18 June 19 if that pans out.

٢٢ يونيو ٢٠١٩

ملاحظة

With the breakout at the bottom of the triangle and retest as resistance, I expect the downtrend will continue. Solid continuation of the RSI downtrend also occurring. Just another example of a bull triangle (flat on top) breaking out to the bottom instead. Looks like the sellers won this round.

١ يوليو ٢٠١٩

ملاحظة

Looks like the triangle may not have been valid to begin with. Not sure where to go with this, but will give it some thought.