EURCHF Triangular Contraction, April 13, 2017, Thursday
Observation:
Price respect dynamic resistance of Triangular Contraction and shows a bearish move.
Consolidation phase nearly done as price moves closer to the corner of the triangle.
Analysis:
Higher probability for a Short than a long as Triangular Contraction slope is leaning downward.
Conclusion:
Place short order with tight stop loss at the last higher high for better risk management of risk reward ratio.
Price respect dynamic resistance of Triangular Contraction and shows a bearish move.
Consolidation phase nearly done as price moves closer to the corner of the triangle.
Analysis:
Higher probability for a Short than a long as Triangular Contraction slope is leaning downward.
Conclusion:
Place short order with tight stop loss at the last higher high for better risk management of risk reward ratio.
If short, place SL at the dynamic resistance of the Triangular contraction.
If long, place SL at the dynamic support.
More lessons to be learned at Pivot points.