Cadchfidea
Long CADCHF6 rejections and 1 false breakout from the ascending trend line on the daily chart. The trend line was respected since March 2020. Price rejected of from the resistance horizontal zone twice, turned into a support zone and price rejected that twice in the 4hr chart. I'll be expecting price to long towards 0.72900.
CADCHF clear bearish price action Hi Traders,
CADCHF is consolidating within a bearish continuation correction which with the Global events occurring I suspect CHF to gain strength. Price action clearly shows sharp impulses after the corrections complete and with the Russia and Ukraine tension happening, we may expect another impulse move downward.
Always wait for confirmation before taking your trade. Follow your trading plan!
Good luck!
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Bearish price action, look for a SELLHi Traders
CADCHF is showing bearish price action with multiple corrective structures developing. The last correction gave us an LTF correction at the top of the channel to validate a sell opportunity. Price pushed down and gave us a CAB entry (correction after breakout).
Manage your targets appropriately and follow your trading plan.
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CAD/CHF 1HR SELL SET UPHi TRADERS this is my trade set up for the CAD/CHF
CAD/CHF Coming in to area of resistance I am looking to take a sell only
This is my analysis only please trade with caution and risk management in place
clean crisp charts I hope it helps if you have any questions please private message me
good luck for this weeks trading
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Short CADCHFI expect price to fall towards the previous swing low as it has been respected several times since December 2021. My second reason is because price has broken out of the ascending trend line which has also shown strength since December 2021. After seeing that there has been a clear break to the low side, I won't be surprised if price heads up for a retest before shorting towards 0.71950, which is also a major ascending trend line that started in March 2020.
CADCHF SetupCADCHF is trading in a parrallel bearish channel, making swing lower high and lower lows.
We are expecting bears to drag the price from the resistance zone.
Trade your levels accordingly.
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CADCHF (15m) May Pump to 0.73777It's not late to jump in and ride the short term wave for 60+pips.
Strategy: Shift in Direction
There is BOS and Correction to 78.6% fibo level of the swing that caused the break. I expect price to grow to my target 2, but first, i have to cover the cost by taking profit in-between.
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CADCHF - LONGIs CADCHF set up to go LONG?
First we look at the Monthly and we see a 10 year trend connecting tops was broken in 2017 and the market has been ranging since 2014.
We are now in the middle of that range.
We see the low in Jan 2016 was surpassed in March 2020 when Covid 19 broke out, symbolically hunting out the stops and taking out the early buyers.
The weekly/daily shows us that the market created a smaller range in April 2021 and doubled the range in August.
We are now at the bottom of the range.
We can also see the market has currently retraced between the 382 and 50% of the current swing.
Price action shows a failure to make new lows.
If we take a trend-based fib extension (A-B-C-D pattern) from the low in Mar 2020 to the top of that swing Mar 2021 and back to the low in Aug we have a projected target at 0.80 - see green box.
Somewhere in this zone we can look for the long.
Do you wait for the market to dip a little more to a 1.272 or 618 ext on the daily?
Does the alignment of the 618 ext and the 50% retracement of the latest swing provide more supplementation to our perception of the market?
Do we take the long now and not wait for an extension? If so, our stop will need to be below the 618/50% and possibly the 2. Is that too big a stop?
I can't tell you exactly when to go but from our analysis I can say we are in the buy zone and we are always looking for optimal entry with a small stop.
Yes we would love the price to hit the 618 and show a buying tail but it may not get there.
All we can do is stack the odds on 'our side'.