EURCHF Triangular Contraction, April 13, 2017, Thursday

13 Nis 2017

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.

30 Nis 2017

Not

Lesson learned:
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.