CADCHF Breakout Alert!!The formation of Ascending triangle pattern in 4 hourly charts is likely to breakout upwards with high volume.
Stochastic RSI, RSI, and MAcd are showing buying pressure.
Targets are drawn along with the main support.
If the breakout is upwards, easily 30-40 Pips profit in the short term.
NOTE- DYOR before investment, this chart is for educational purpose only
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CADCHF approaching support, potential for a bounce!
CADCHF is expected to drop to 1st support at 0.74833 where it could potentially react off and up to 1st resistance at 0.75377.
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Is it time for CADCHF to bull?Hello guys, Currently We keeping eyes on CADCHF
since it hit major key support (0.73541 price level).
Price has gone on to break minor area of structure
with some sort of fast bullish mommentum.
What we looking out of this pair is a retracement
to our first Price reversal zone(PRZ) being the 38.2 fib
level together with some candlestick patterns in order
take some trades on this Pair
POTENTIAL LONG ON CADCHF Price is currently at the 50% Fib level of that bullish impulse so there is a potential extended bullish move to complete 100% of the retracement. Bullish divergence is evident.
SL has been marked.
TP has been marked .
Risk exposure - 1%
Risk to Reward - 1:2
Happy Trading ..
BEARISH RUN AFTER RETRACEMENT FOR CADCHFWe can currently see this pair retracing thus gaining momentum and also creating bearish divergence for a potential bearish continuation. We can see the same setup on USDCHF. The grey line has been marked at 50% fib level of that bearish move. Should price move to the red line which is our SL, this would invalidate our trade idea. Our tp is marked at 100% of the retracement.
Grey line- entry
Red line - Stop loss
Green line - Take profit
Risk exposure - 1%
Risk to reward 1:2