CadCHF getting lower to the keylevel 74.00the CADCHF broke the Trendline and retested it. now it is following a clearly downside movement to make an. double bottom togo bullish again. this downside movement is just a retracement for the current level.
after 74.000 CadChf will rise again. to a target of 0.79. mason for this is that I believe that CAD has scope a strengthen further, extending its recent recovery. and this in contrast with the CHF where the SNB is dovish about their monetary plan.
Cadchfshort
CADCHF Short Idea 1HENTRY: 0.75909
SL: 0.76011
TP: 0.74850
Entered this trade off of a market execution.
This is one of my friend and mentor's favorite pairs.
on the 4H time frame I boxed out the consolidation zone. I waited for a break out of that box and the retest off of the Kijun.
Other signals:
- Break out of Kumo
- Dark Future
- TK Crossover
Let's see what happens!!
CADCHF Approaching Support, Potential BounceCADCHF is approaching its support at 0.7543 (38.2% Fibonacci retracement, Horizontal swing low support) where it could potentially bounce to its resistance at 0.7574(50% fibonacci retracement).
Stochastic (89, 5, 3) is approaching its support at 9.1% where a corresponding bounce could occur.
CADCHF Approaching Support, Potential BounceCADCHF is approaching its support at 0.7441 (100% Fibonacci extension, 23.6% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 0.7515 (horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 5.2% where a corresponding bounce could occur.