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Swissfranc

CADCHF: Potential Long Trade Explained 🇨🇦🇨🇭 CADCHF is coiling on strong structure support. To buy the market with a confirmation watch 0.74 - 0.7415 horizontal minor resistance. Your trigger will be its bullish breakout. You need 4H candle close above that to confirm a breakout. Then a long position should be opened on a retest. Goals will be 0.74444 / 0.74589 If the price breaks horizontal support to the downside, the setup will be invalid. ❤️Please, support this idea with like and comment!❤️
Long
by VasilyTrader
13
USDCHF WEEKLY SHORT Strong Down Trend Leg On Weekly Leg1 Start Price: 0.98491 (open) Date: March 23rd 2020 End Price: 0.89027 (close) Date: Jan 04th 2021 Leg 2 (Entry Sell) Entry: 0.93386 Stop Loss: 0.94602 Date: 17th March 2022. Take Profits: Price has been stuck in a sideways range since 22nd Feb 2021. This is a weak pullback in based on structure and price action. Price Action stated that strong trends usually take the form of TWO with trend legs. WAIT to enter on a Low 1 entry on the 4HR TF (@0.93386). Take Profit Calculation: Fib Retracements Fib Extension of previous weekly Swing High: (March 4th - 16th) Target 1 = 0.8999 (R;R = 2.98) Target 2 = 0.87418 (R:R = 5.49) Fundamentals Backdrop Short USD ~ High Inflation ~ Debt from Stimulus and Ukraine Aid ~ Swiss Frank is risk off currency ~ Swedish Central Bank is keeping interest rates at current levels which is Less hawkish than US Fed Quantitative Tightening Fiscal Policy. Cheers! First Trade Post Ever! :)
Short
by hgidharry
3