Hi Traders! EURCHF triangle breakout provides buy opportunity for us. In the below video you will find a detailed explanation of this buy setup:
EURCHF W1 Chart:
On the weekly chart the price which was moving lower created a double bottom with bullish divergence, which we may consider as an evidence of bullish pressure. We may now look for more evidences of bullish pressure on lower timeframes in order to join the bulls.
EURCHF H4 Chart:
On the H4 chart we had a bullish momentum and then the price got stuck inside the triangle pattern. The price which was respecting this triangle pattern so far has currently broken above the top of it. Currently it looks like a pullback is happening, in addition to this we also have a critical zone that has formed and the price has reached this zone. We may now start looking for possible buy setups in order to join the bulls.
Note: It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this buy setup then you can use any setup and strategy that you have in your arsenal to look for bullish moves and join this buy trade.
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