CADCHF is consolidating with triangle patterns, which are characterized by converging trendlines that create a contracting range of price movements. Such patterns are labeled as A-B-C-D-E and can occur in various wave correction degrees.
Triangles are typically regarded as corrective patterns that occur within larger trending moves. They represent periods of price consolidation and uncertainty as market participants balance their buying and selling pressures. The shape of a triangle is often likened to a coil or a spring, suggesting that when the pattern resolves, a significant price move may occur. Feel free to share this information with others for educational purposes.
Triangles are typically regarded as corrective patterns that occur within larger trending moves. They represent periods of price consolidation and uncertainty as market participants balance their buying and selling pressures. The shape of a triangle is often likened to a coil or a spring, suggesting that when the pattern resolves, a significant price move may occur. Feel free to share this information with others for educational purposes.
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