Cadchfshort
potential double top short opportunityCADCHF has reached a high of the 18th, Aug and then retraced, it's countered not only the high but also the a zone of previous support which now is turned to resistance.
Given the fact oil is falling today and CADCHF has rallied in the past few days causing lower time frames RSI approaching/is over bough, I believe a downward movement is a must.
SL: around 0.7277 below 0.73 as 0.73 invalidate the analysis.
TP: fib based previous low, - I'm doing conservatively here, but you may aim lower such as 0.723, 0.72 ir even 0.718
Be aware today's going to be a volatile day for many pairs. So manage your risk.
GL
CADCHF FOR ANOTHER LEG DOWN?As clearly depicted on the whiteboard charts, we see this pair in a downtrend.
Massive downside legs are thrown to the downside with series of support levels broken along the way.
We've got a recent level that has been broken and now we have price coming back to it.
More than likely, we could see some downside continuations from here on in.. We're waiting for entry confirmations around this level looking to short to the downside.
CADCHF - Bearish BiasCAD - Strong Bearish
1️⃣ The risk-off environment and further decline in crude oil prices depressed the CAD.
2️⃣ The Canadian inflation rate for July is expected to decline following the decline in the price component of the PMI IVEY.
CHF - Strong Bullish
1️⃣ CHF benefited from safe-haven flows as investors sought protection due to negative sentiment.
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Technical
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We are selling the CADCHF below the resistance of 0.72500.
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Risk to this trade
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Any change in sentiment could turn the pair's direction.
CAD/CHF SELL signal....VIEW
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CADCHF SELL POTENTIALOn the above analysis we can clearly see Price has dropped and formed a Descending Triangle.
Price has moved towards the top of the Descending Triangle and a sell is very probable from the area marked above, i will be waiting for price to enter into the body of the triangle before considering a sell and provided market conditions allow us to place a sell
CADCHF Short As we can see, CADCHF is moving in a descending channel on the H4, the pair failed to break the upper trend line, we expecting a bearish continuation to re-test the level listed on the chart.
We taking this trade based on technical analysis and price action.
Please use proper risk management depending on your account size, Use lot sizes based on these calculations.
Here is a break down of your pip value in ZAR and Dollars
0, 01 = R1,43 / $0,10c
0. 05 = R 7,15 / $ 0.50
0.10 = R 14,3 / $1.00
1 Lot size = R 146,26
How to calculate Margin = (Lot Size * Contract Size)/Leverage, Lets say your broker gives you 1:500, and you open 0,2 size, How much are you exposing ? calculations : (0.2 * 10 000) / 500 = $4 (R58) also (1 Lot * 100 000) / 500 = $200 (R2 960)
So, each time I open (1 Lot size, am exposing R2960 (Down payment)
Remember, These are long term trades, It is advisable to have enough margin to handle the fluctuation of the markets.
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