Cadchfshort
A Trend Continuation Trade On CADCHFHi Trading friends!
CADCHF has been pushing down the past few weeks. Last week a new lower low formed on the daily which indicates the sellers have control. Today price has closed a a bearish hammer which could stop price here and push it back down to the low at 0.71724.
It's all about supply and demand baby! Let's see of the sellers want the CAD 's value to continue to decrease.
CADCHF Sell IdeaGoing short on Cadchf, entry is 0.73000, final tp 0.71750 sl:0.73400
trade with proper risk management . dont risk more than 2% of your capital!
CADCHFCADCHF is moving in between ascending parallel Channel . Price rejected with impulse and made nice correction. The new structure level is exactly on 61% Fibo level. I am expecting good selling opportunity after counter correction line breakout.
Trade idea - CADCHF shortSell CADCHF near 0.7325
Target potential 0.7250
This sudden upward burst will result and profit taking and bring the pair lower.
CAD/CHF SELL SignalCAD/CHF Signal
Market Sell: 0,72430
Stop-Loss: 0,73000
Target 1: 0,71900
Target 2: 0,71000
Stop-Loss: 57 pips
Risk: 0,5%
Risk-Reward: 2,5
CADCHF Short Into 0.71300Confluences
a. Breakout
b. Lower low
c. trendline 3rd touch
d. Key level
e. FIB Golden zone
CADCHF bearish breakout | 30th June 2021CADCHF has seen a bearish breakout from the ascending trendline support-turned-resistance, and is now holding below the descending trendline and Ichimoku cloud resistances. We could see a potential reversal at Sell Entry, in line with 50% Fibonacci retracement, 78.6% Fibonacci extension and horizontal pullback resistance, and further drop towards Take Profit level, in line with 100% Fibonacci extension and horizontal swing low support. RSI is also holding below the descending trendline resistance.
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CADCHF testing Sell Entry | 28th June 2021CADCHF is testing the Sell Entry level, in line with 61.8% Fibonacci retracement, 78.6% Fibonacci extension, and horizontal overlap resistance, where we could see a reversal and further downside towards Take Profit, in line with 50% Fibonacci retracement, 61.8%, 127.2% Fibonacci extension and horizontal swing low support. Stochastics is also approaching resistance where price has reacted before, showing signs of bearish pressure.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
💡Don't miss the great sell opportunity in CADCHFTrading suggestion:
". There is still a possibility of temporary retracement to the suggested resistance line (0.7466).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. CADCHF is in a range bound, and the beginning of a downtrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 43.
Take Profits:
TP1= @ 0.7431
TP2= @ 0.7416
TP3= @ 0.7397
TP4= @ 0.7377
TP5= @ 0.7362
SL: Break Above R2
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💡Don't miss the great sell opportunity in CADCHFTrading suggestion:
". There is still a possibility of temporary retracement to the suggested resistance line (0.7466).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. CADCHF is in a range bound, and the beginning of a downtrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 43.
Take Profits:
TP1= @ 0.7431
TP2= @ 0.7416
TP3= @ 0.7397
TP4= @ 0.7377
TP5= @ 0.7362
SL: Break Above R2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex / Crypto trader ?
Now, It's your turn !
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
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CADCHFTARGET 0.73900
ANOTHER SELL OPPURTONITY AT 0.75200
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