NZDCAD H4 Pennant Formation
Price is forming a pennant pattern as it tests an important resistance channel for the 3rd time. If price breaks this channel the formation becomes active and the target would be as it is shown on the chart. Good Luck!
Trade ist aktiv:
Trade geschlossen: Stop wurde erreicht:
Stopped out.
Pennant pattern couldn't work, price couldn't penetrate the resistance channel and now it looks like a double top. after a 4H candle close under the blue channel, a short position with a relatively shallow stop loss zone might be an alternative.