Cadchfshort
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
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.