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Cadchfsell

CAD/CHF: Bearish Harmonic Pattern at Key Resistance LevelThe CAD/CHF currency pair is presenting a compelling shorting opportunity based on a confluence of technical factors. A Bearish Harmonic Pattern is currently unfolding, with Point D, also known as the Potential Reversal Zone (PRZ), situated at a critical resistance level. This strengthens the bearish case as price tends to find rejection at these confluence zones. Harmonic Pattern and Resistance: The specific Bearish Harmonic Pattern in development is not explicitly mentioned, but the key takeaway is the presence of Point D at a resistance area. This area has previously acted as a barrier to price advancement, and a retest often leads to a reversal. The confluence of the pattern completion and resistance adds significant weight to the bearish bias. Bearish RSI Divergence: Further bolstering the bearish case is the presence of Bearish RSI Divergence on both the 1-hour and 4-hour timeframes. RSI divergence occurs when price makes a new high (or low) but the RSI indicator fails to confirm the move, printing a lower high (or higher low). This divergence suggests a weakening bullish momentum, potentially leading to a price reversal. Trendline Support Turned Resistance: Adding another layer of confirmation is the fact that Point D coincides with the 4-hour trendline. This trendline, which was previously acting as support, has likely been broken and is now functioning as resistance. This reinforces the notion of a bearish shift in momentum. Entry, Stop Loss, and Take Profit Levels: Based on the confluence of technical indicators, a short trade is recommended with the following parameters: Entry: 0.66710 Stop Loss: 0.67025 (placed slightly above the broken trendline resistance) Take Profit Levels: TP-1: 0.66395 TP-2: 0.66080 TP-3: 0.65765 (These profit targets are strategically placed at key technical levels or at a predetermined risk/reward ratio) Risk Management: It's crucial to employ proper risk management techniques for this trade. The stop loss should be placed above the broken trendline resistance to account for potential retracements. The take profit levels offer a favorable risk-reward ratio, allowing for potential profit even with a conservative approach. Conclusion: The CAD/CHF presents a strong shorting opportunity based on a Bearish Harmonic Pattern, Bearish RSI Divergence, and a broken trendline acting as resistance. The confluence of these factors suggests a high probability of a bearish reversal. However, as with all trading strategies, proper risk management is essential.
Short
by trading_jupiter
CADCHF Short Trade Setup A #short trade opportunity recently presented itself on the #loonieswissy (#CADCHF) #trading chart 📉. This is indicated by the #bearish engulfing candlestick 🕯️ pattern just below the 0.66868 horizontal resistance level. This indicates a rejection of the same level, with potential price move in the downward ⬇️ direction (#sell). Sufficient downward momentum should see price dumping towards the 0.65000 psychological level and possibly testing the strength of the 0.64840 horizontal support level. As always, please apply appropriate risk management. Happy trading! #crosspair
Short
by charles-okoukoni
2
CADCHF Trading Plan - 07/Feb/2024Hello Traders, Hope you all are doing good!! I expect CADCHF to go Down from these levels. Potential B wave of bigger correction is almost completed. Look for your SELL setups. Please follow me and like if you agree or this idea helps you out in your trading plan. Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management. Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea.
Short
by For3xScalper
1
7 Dimension Analysis For CADCHF🕛 TOPDOWN - Bearish Continuation Setup for CAD/CHF Overview: The monthly and weekly analyses signal a bearish trend, validated by a series of bearish breakouts and consolidations. The focus is now on the daily timeframe for a detailed perspective. 😇 7 Dimension Analysis Time Frame: Daily 1️⃣ Swing Structure: Bearish - 68% probability of further downward movement. 🟢 Structure Behavior: Break of Structure (BoS). 🟢 Swing Move: Impulsive. 🟢 Inducement: Breakout with liquidity sweep indicating continued bearish momentum. 🟢 Pull Back 1st: Awaiting confirmation, position holding is crucial. 🟢 Internal Structure: Bearish. 🟢 Ext OB: Unmitigated. 🟢 Support Breakout CIP: Acts as resistance. 🟢 Post-Breakout Quality: Clearly favors bears, evident in small consolidation with bearish candle size and multiple wicks. 🟢 Traps: Shakeout observed, indicating bearish sentiment. 🟢 Time Frame Confluence: Daily. 2️⃣ Pattern 🟢 CHART PATTERNS Reversal: Head and shoulders, double top. Continuation: Bearish flag with a 38% tilt, shakeout continuation with flag consolidation. Consolidation Rectangle: Small consolidation with shakeout liquidity. 🟢 CANDLE PATTERNS Key Considerations: Record session count with multiple dojis signals change in guard. Long wick bearish closing indicates rejection from multiple wicks and doji area. Momentum signals include strict engulfing. 3️⃣ Volume: 🟢 High volume on the breakout confirms its validity. 4️⃣ Momentum RSI: 🟢 Momentum is in a super bearish zone. 🟢 Range shift is evident with proper bearish indications. 🟢 Divergence: Hidden bearish divergence observed at the start of the move. 🟢 Loud moves: Momentum shifted from sideways to bearish with a loud move. 🟢 Grandfather-father-son entries indicate a strong bearish setup. 5️⃣ Volatility Bollinger Bands: 🟢 Middle band rejection at the middle band. 🟢 Squeeze starting indicates potential consolidation for volatility compression, followed by a wild bearish move. 6️⃣ Strength According to ROC: 🟢 ROC values: CAD 0.37 vs CHF 1.31, indicating CHF is much stronger. 7️⃣ Sentiment: All market parameters and top-down analysis indicate that CAD is under substantial pressure against CHF. The sentiment suggests looking for sell opportunities. ✔️ Entry Time Frame: Daily ✅ Entry TF Structure: Bearish ☑️ Current Move: Impulsive ✔ Support/Resistance Base: Bearish post buildup. ☑️ Candles Behavior: Bearish long wicks, bearish momentum. 💡 Decision: Sell at open. 🚀 Entry: 0.6443 ✋ Stop Loss: 0.6505 🎯 Take Profit: 0.6118 2nd Exit if Internal Structure Changes, 3rd Trendline Breakout, FOMO. 😊 Risk to Reward Ratio: 1:4.5 🕛 Expected Duration: 30 days SUMMARY: The analysis strongly supports a bearish continuation setup, aligning with the monthly and weekly bearish trends. Key indicators such as candle patterns, volume considerations, and momentum signals reinforce the sell decision. The strategy involves clear risk management and exit criteria.
Short
by Optimum369
4
CAD/CHF Weekly Analysis - Will We Continue to the Downside?CAD/CHF is showing no signs of a reversal on the Weekly chart. We currently have a descending triangle in a bear trend, signaling a continuation to the downside. Until we see a bull signal bar with a confirmation bar closing on or near its high, we should remain short. I would wait for a minor pullback at least to the Weekly 9EMA to short again, depending on how the price action plays out. Key Points: 1. CAD/CHF is in a bear trend 2. Descending Triangle signals a continuation to the downside 3. RSI has room to fall 4. Until we see a bull signal with confirmation, remain short As always, trade at your own risk, you are responsible for your trades. I hope this analysis was insightful and useful. Trade wisely and let us know what you think in the comment section below!
Short
by TraderEngineering
CADCHF Technical Analysis and Trade IdeaIn this detailed video analysis, we thoroughly examine CADCHF dynamics. We can see that CADCHF has been under significant downward pressure lately, causing it to move towards an important support level. The chart clearly shows a long price drop, suggesting a potential rebound. Our discussion covers essential aspects of technical analysis, including looking at current trends, closely studying price movements, assessing market structure, and exploring other key elements of technical analysis. Throughout the video, we explain these concepts in a straightforward manner to ensure our viewers have a comprehensive and enlightening learning experience. It's important to note that this video is meant for educational purposes only. Please don't consider it as financial advice. Remember that trading comes with inherent risks, so always prioritize responsible risk management in your trading activities.
Short
by fxtraderanthony
CADCHF LONG TERM SELLING TRADEHello Traders In This Chart CADCHF HOURLY Forex Forecast By FOREX PLANET today CADCHF analysis 👆 🟢This Chart includes_ (CADCHF market update) 🟢What is The Next Opportunity on CADCHF Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the ChartS
Long
by ForexPlanet20
CADCHF - Short from daily order block ✅Hello traders! ‼️ This is my perspective on CADCHF. Technical analysis: Here we are in a bearish market structure from weekly perspective, so I am looking for short. I want price to continue to go a little bit higher to fill the imbalance and to take buy side liquidity and then to reject from daily bearish order block + institutional big figure 0.69000. Fundamental analysis: On Friday will be released monthly GDP in Canada, if the result is negative, it will support our analysis. Like, comment and subscribe to be in touch with my content
Short
by Snick3rSD
CADCHF current resistance closely watchedCADCHF has been consistently in a downtrend since January 2023. As of now, the price has reached its downtrend resistance level for the fourth time. The crucial question is whether it will once again respect this trendline resistance and proceed downward, if fails to overcome this resistance, it might continue to face selling pressure, possibly targeting levels around 0.6620 and 0.6480 to maintain its downward trajectory. However, there's also the possibility that CADCHF could break out from this persistent downtrend resistance. If this scenario unfolds, it might surge upwards, potentially reaching levels around 0.6810 and even 0.6930. This breakout would signify a significant shift in the currency pair's trend direction. Traders and investors will closely monitor these key levels to gauge the future direction of CADCHF.
by FKW-Millions
CADCHF traders look for Buy Opportunities {21/08/2023}Educational Analysis says CADCHF may go long according to my technical. This is not an entry signal. I have no concerns with your profit and loss from this analysis. Why Short? Because CADCHF price is at that place level where got demand thrice by traders. Although this pair has proved that, It's Changing its character and Also traders now looking for an uptrend from this level, and eventually will prove that the Market structure shift and eventually led to a Break of Structure. Analytical Trade would probably be Buy order at 0.65011 Stop loss at 0.64854 Take profit at 0.67815 I HAVE NO CONCERNS WITH YOUR PROFIT OR LOSS.
Long
by VishalBudhrani
2