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CADCHF Continuation Downside, Watch for correction
CAD/CHF
Short
CADCHF Continuation Downside, Watch for correction
By jojofang0901
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Aug 19, 2021
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Aug 19, 2021
Hi everyone:
Some big movement in the last few days on USD. CHF, JPY pairs, and I was able to get in on the CADJPY sell.
Looks like CAD pairs are getting weaker, and I can expect CADCHF to also continue its bearish price action.
We can see after the initial bullish up move, price formed a pennant/triangle correction, but didn't not continue its originally move up.
Instead it was reversal correction, price then push down impulsively, and formed a continuation correction.
Latest price manages to impulse out of the correction, good sign of continuation.
I will be waiting for a lower time frame continuation correction to form and complete, before jumping onto another sell on the CAD.
Thank you
Bearish Patterns
CAD
Chart Patterns
chf
correction
impulse
pattern
Pennant
priceaction
structure
Triangle
jojofang0901
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