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Cadchfshort

CADCHF - My trade for the week!Hello guys! Welcome to my trade for the week. Here we are expecting CAD weakness soon, and CHF strength as the recent USD highs start to wane. This is a fairly simple analytic setup, with clear recent limits, and some nice impulse correction patterns developing in the mid-range timeline. I have marked out the corrective trendline, including the smaller timeframe. Ideally, we would like to see a double top and rejection of the marked level, which is also the 78.6 Fib level. I am not expecting any really significant news for this week. I have provided two possible entries - sniper and safer. Sniper gives more reward, but any spikes from brokers or news may close an otherwise successful trade. if a stop loss is reached DO NOT chase the trade. I have had an 86% success rate for trades posted here (for free!) so you will always have other options. Do not give money back to the market. This may initiate quite soon! If you like my charts and appreciate what I do here for free, please like and subscribe, follow and comment - it makes a huge difference for me, and really motivates me to keep providing the work for you. If you have any questions, please do feel free to contact me, too. Good luck, trade safe! DrBear
Short
by DrBear
1
Wait for the opportunity to sell with CADCHFH1 time frame. Structure: Uptrend. The price moves in an ascending channel with a wide range. There is now a divergence signal and the key level is at 0.73000. Wait for the confirmation of the downtrend and the appearance of a sell signal, then you can sell with CADCHF. The profit target is the support line of the price channel, price zone 0.72400. ----------------------------------------------------------------------------------------------- Wish you all have a good trading day!
Long
by tradafx