CAD/CHF SHORT SETUPfter nearly 6 months of consolidation, we saw the bottom fakeout and the begining of the rising up of the Canadian currency. At the 66.7% fibo level, we saw the beginning of the start movement and the creating formation of the HnS pattern. At the moment, we expect a retest of the neckline and another drop down. If the market does not negate the pattern, we expect further reactions in the 50-66.7% fibo zone and a correction that will probably break out the imbalances that occurred around the neckline. The continuation of the movement is expected to the 1.61% level of fibo expansion, which at the same time may complete another HnS pattern in D1 tf, which will probably start of full trend reversing
The yellow fields are the supply / demand zones. The places marked in red are the most important zones where fibo, s / d, s / r pivots clusters overlap. Note that moving avarages in chart works as support / resistance .
It is also worth taking a look at the strong reaction at the fibo levels of 55.9% and 61.8 (excluded) -66.7% fibo+Elliot Waves
Warning! Im using different settings of cloud
If you want to know more about the strength teamt and the precise direction of the trend and reaction to the zones, I recommend that you start using Heikin Ashi and Renko candles
If u have any questions ur always welcome to write amilerski@icloud.com
~~~Remember that the above analysis is only an idea :) You are responsible for your money yourself.~~~~
The market will verify! Bless!
