CAD CHF Trendline
2019-11-01 04:48:17
Price has found itself resting on upward sloping trendline.
The trendline coincides with a strong level of structural support.
Price has been Bullish in the overall trend.
Price is at the 38.2 from the last main swing of the Daily Chart. This is a key level.
On the smaller timeframes,
the 4 hour shows rejection candles.
the 1 hour shows bullish divergence.
I have placed my projections however it will only be a safe trade when price has actively closed above the trendline. On the 1 hour chart there is a small bullish bar below the trendline. I wish to see that close above and then I will be happy with a resultant risk reward of
1:3 and 1:6