Cadchfshort
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.
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Wish you all have a good trading day!
Wait for a sell signal with CADCHFH4 time frame.
Structure: Downtrend.
Price formed a reversal pattern and broke the Key level at 0.72300.
Wait for a sell signal and the profit target is the 0.71000 price area.
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Wish you all have a good trading day!
CADCHF shortCADCHF short analysis:
On the daily timeframe, we see a bearish run from August 12 that ended with a bullish doji on August 20 and the pair has been correcting since then. On Friday, we saw a bearish hammer close just below 78.6% of the previous bearish move and yesterday's trade confirmed the bearish move with an engulfing candle which closed below 50%. 61.8% was approached and rejected this morning (which gave the entry).
On H4, H1 and M15,the 200/50ema cross has just been retested.
A daily close below 50% should give an entry, sl above 61.8% and take profit at -27.2%.
Good luck