CADCHF TRADE FORECASTCADCHF is trading within the range indicated by the dotted line, which delineates swing points on the Daily and Weekly timeframe. After an aggressive sell-off this week, it has retraced to the 0.69200 level and 0.705 weekly fibonacci retracement.
I think it may rise up next week to pick up liquidity, before coming back down to take out the sell stops resting below 0.69200 and beyond!
Cadchflong
CADCHF long trade ideaPlan: wait for the price to bounce off from trendline or support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
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GWBFX
CADCHF H4 LONG PRICE ACTION FORECASTPrice action continues to be trading with a rising channel spotted in D1. Then, in H4, an expected pullback to the trendline in confluence with Fibonacci level 61.8 for a long entry will be placed. The diminished bullish momentum in MACD could support this pullback.
A buy-limit entry for a bounce strategy from the trendline+Fib level, give enough room for the following setup:
S/L: 47 pips - R:R | 1:4 - T/P aiming to the next resistance level.
SHIFT IN MOMENTUM ON CADCHF : BEARISH Hi Guys,
Happy Friday! We are evidently bearish on CADCHF so longs have been closed at -46pips. I'll be looking for price to retrace at least to our entry point before potentially advancing lower.
A major attribute you ought to adopt is the ability to trade what you see and not what you think. The market will speak clearly only if you are willing to listen.
Do not risk more than 2%
CADCHF LONG PossibilityCAD been moving pretty bullish hence causing fluctuations as well.
Now respected support zone and rejected as well.
I am hoping a LONG entry from here..
Might retrace a bit but that's still Market..
Proper bearish channel can be seen but can expect a LONG entry for short term...
Will the CADCHF continue upward?Hello Traders,
The CADCHF pair may continue its move upwards following the current pull-back. The pair has reached a moderate level of support. There is also Hidden Bullish Divergence forming on the 4H price chart/MACD Platinum possibly signaling the end of the current pull-back. This trend continuation becomes invalid if the price chart drops below the previous low of .6920
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*The above is not trading advice but simply my analysis of the market*
CADCHF approaching support, potential bounce | 21 May 2020Price is approaching our first support in line with our 161.8% and 127.2% fibonacci extension as well as 78.6% fibonacci retracement where we might see a bounce above this level to our resistance level . Stochastic is approaching our support level as well. We have also posted the video analysis version linked below, do check that out as well and let us know what you would like to see next!