CADCHF trade ideas
CADCHF: Important Breakout 🇨🇦🇨🇭
CADCHF formed a huge descending triangle pattern on a daily.
Bearish breakout of its neckline on Friday is an important event
that signifies a strength of the sellers and a highly probable
bearish continuation.
I will look for selling from a supply area based on a broken support
and a falling trend line
Next goal - 0.6167
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CADCHF Short - descending channel and bearish flag patternCADCHF on the 4H chart its stuck in a descending channel & got rejected by that around 0.6250 resistance level. On the 1H chart its forming a bearish flag pattern which is telling us the downtrend is gonna keep going.
What's your take on this pair ?
my short entry is instant
all other Stop and Take profit
you can found on the chart
Good Luck!
CAD/CHF Downtrend: Breakout Support, Targets 0.6160 and 0.6100The CAD/CHF pair appears to be in a downtrend, forming a descending channel. It has recently broken through the support level at 0.6245, indicating further bearish momentum. The potential downside targets are:
First Take Profit (TP1) : 0.6160
Second Take Profit (TP2) : 0.6100
The price could continue to drop towards these levels.
Long trade
Trade Details
Date & Time:
Entry: Sunday, 4th August 2024 at 9:00 PM
During the transition from the Tokyo to London session in the PM).
Trade Type: Buyside (long position).
Entry Price: 0.61649
Profit Level (Take Profit): 0.65517 (6.27%)
Stop Level (Stop Loss): 0.60484 (1.89%)
Risk-Reward (RR): 3.33
CADCHF: Short Signal Explained
CADCHF
- Classic bearish setup
- Our team expects bearish continuation
SUGGESTED TRADE:
Swing Trade
Short CADCHF
Entry Point - 0.6308
Stop Loss - 0.6325
Take Profit - 0.6273
Our Risk - 1%
Start protection of your profits from lower levels
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