CADCHF: Bullish Pattern & Important Breakout 🇨🇦🇨🇭
CADCHF formed a cup & handle pattern on a daily time frame.
The neckline of the pattern was broken yesterday.
It now turned into a strong support.
The market may go much higher now.
Next resistance - 0.66
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Swingstrategy
CHFJPY: Bullish Trend Continues 🇨🇭🇯🇵
CHFJPY is trading a long-term bullish trend.
After the price set a new high in July,
it started a correctional movement.
A cup & handle pattern was formed.
CPI report was a trigger for the buyers to violate the neckline of the pattern.
Daily candle closed above that.
It signifies that bullish trend will continue.
The market will most likely keep growing.
Next resistance - 166.5
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Super Swing Strategy - Bollinger Bands, RSI, and ADX Strategy"Super Swing Strategy" - Bollinger Bands, RSI, and ADX Strategy
Indicators Used:
- Bollinger Bands
- Relative Strength Index (RSI)
- Average Directional Index (ADX)
Bollinger Bands for volatility, RSI for overbought and oversold conditions, and ADX for strength of the trend.
How it Works:
Add Bollinger Bands, a 14-period RSI, and a 14-period ADX to your chart.
When the price touches the upper Bollinger Band, the RSI shows overbought conditions (above 70), and the ADX is above 20, it's a potential bearish signal.
A bullish signal occurs when the price touches the lower Bollinger Band, the RSI shows oversold conditions (below 30), and the ADX is above 20.
You can use additional indicators or price action analysis to confirm signals.
EURJPY: Your Detailed Trading Plan For Next Week 🇪🇺🇯🇵
EURJPY is trading in a long-term bullish trend.
After it reached 158 level, the market started a correctional movement.
The price retraced to a rising trend line and bounced from that.
The market is retesting the current high now.
If the price breaks and closes above that on a daily,
it will trigger a trend-following movement.
A bullish continuation will be expected to 160.0 level then.
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