In this post, we’ll review a real-time application of the 1-2-3 pattern from the CADCHF cross.
In its 2-hour chart, the CADCHF cross shows a potential bearish1-2-3 pattern. The breakdown below the 0.7525 level and the pullback, makes us suspect that the CADCHF cross could see more drops. Before pulling the trigger, we have to see the close of the current candle under 0.7525. The potential target is at 0.7477, and the invalidation level is at 0.7546.
Remember that the price is not forced to move as our outlook proposes. The chart released corresponds to an educational application of the 1-2-3 Pattern and Price Action theory. Comments issued don’t represent an investment recommendation. Leveraged products are complex financial instruments and are not recommended for a certain type of traders. Losses can exceed deposits.