Final Phase of Symmetrical Triangle?
Good day traders! CAD/CHF might finally be nearing the end of a long-term Symmetrical Triangle. The last time I reviewed this trade idea was on the 1st of November and I recently thought that my proposed E-wave may have completed already.
Yesterday’s sell-off may be the start of the final leg lower, but I would like to see a zigzag formation that moves lower into the 0.7345 – 0.7407 region, rather than a fast drop.
If price moves that low and reverses higher, then potential upside targets could be set at 0.7550 and 0.7628.
Until next time, happy and safe trading!