Hello all,
In the chart, signals nicely jump off from the support and entering into a possible pullback area.
But the price is not creating a trend reversal.
In a day time-frame, at 0.78523 the market got a pullback and reversed the trend to down.
After the pullback, it forms an impulse to keep the reversal process in a constant form.
Back to back impulse formation tends the flag formation as a correction (shown on the graph).
At present, chart printing the signals at 0.74853.
Henceforth, we have a probability for the pullback.
By the continues impulse formation, the pullback point may differ.
I am expecting a sharp impulse towards the top and it will break down and fall.
By its record, the fall may up-to 0.72967.
Or In case the signal continued as an impulse means, end our trade at 0.76478.
Happy trading.
SIGNAL SPECIFICATION:
Pair: CADCHF
Order: SELL
Pending Entry 1: 0.75327
Pending Entry 2: 0.75698
Take profit: 0.72967
Stop loss: 0.76478
Risk Vs Reward: 2.05
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Best
Forextamil
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