Tuesday, February 17, 2009

Eur-Chf hourly charts - Bullish Wedge formation

Bullish (downward) wedge on the Eur-Chf hourly

Such patterns usually resolve to the upside. But that's not a 100% surety, it could as well breakout on the downside. Price is near bottom support line. Ideal place to take a long trade. Book half profits at upper resistance line & carry the other half expecting an upside break.