CAD / CHF !! trendline - SELL NOW⭐️ Smart investment, Strong finance
⭐️ Personal comments NOVA:
Trendline H1 formed - there was not much important data at the beginning of the week. DOWN trend - bears prevail
⭐️ SET UP CAD/CHF PRICE:
🔥SELL zone: 0.65550 - 0.65750 SL 0.66000
TP1: 0.65200
TP2: 0.64900
TP3: 0.64600
⭐️ Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order.
⭐️ NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest
Shortcadchf
CAD/CHF carnage not over yet next target 0.6050The currency pair has been falling since 6 June 2023...
It's gone on a strong downtrend channel, which has not been good for the Canadian Dollar.
Lately it's formed not one but TWO bearish chart patterns.
M Formation and Inv C&H
And the price has broken below both the neckline and brim level.
This means, there is more downside to come with a target of 0.6050.
Other indicators confirm the bearish momentum
200>21>7 - Bear market
RSI<50
Target 0.6050
CAD/CHF 4H Technical reasons for shortingWe can get a short selling trade
from (0.75500 - 0.75600) zone
TP1: 0.74650
TP2: 0.74100
SL : 0.76380
This is not an investment recommendation or any call to buy or sell
It is just an analysis based on a study of the history of price action
Behavior , that may not be a necessarily reason for the success of
the structure or repetition. So please make your decision based on your vision .
To protect capital and manage your deals and trading successfully
the maximum loss in each transaction for the same currency or
commodity in the same direction should not exceed ( 2% ) of the capital .
Good luck