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CADCHF trade ideas

CAD/CHF: Bullish Reversal Expected at Key Support levelThe CAD/CHF currency pair is currently forming a Bullish Crab Harmonic Pattern (XABCD). Point D, identified as the Potential Reversal Zone (PRZ), aligns with multiple technical confluences, suggesting a high probability for a bullish trend reversal. ______________________Key Technical Confluences____________________ Potential Reversal Zone (PRZ): Point D, our PRZ, is critical for anticipating a trend reversal. It coincides with: Key Support Area: This area has historically acted as a strong support level, providing a firm foundation for a potential bullish reversal. Daily Trend Line: The PRZ intersects with a long-term daily trend line, reinforcing the likelihood of a reversal. 61.8% Fibonacci Level: The PRZ also aligns with the 61.8% Fibonacci retracement level, a significant indicator of potential price reversal in harmonic patterns. Entry Strategy: To capitalize on the anticipated bullish trend reversal, we recommend taking a position at the breakout of the resistance level near 0.65370. This level is crucial as a successful breakout here confirms the reversal pattern. Stop Loss: Place the stop loss slightly above the support level at 0.65590 for risk management. This placement ensures protection against false breakouts and market volatility. Take Profit Targets: We have outlined three profit levels to maximize returns while managing risk effectively: TP-1: 0.65150 TP-2: 0.64930 TP-3: 0.64710 Each take-profit level offers a strategic point to secure profits as the market progresses in our anticipated direction. Conclusion: The convergence of technical factors at Point D strongly indicates a potential bullish reversal for CAD/CHF. By aligning our entry, stop loss, and take profit levels with these confluences, we enhance our trading strategy's robustness and probability of success. Trade with caution and ensure adherence to your risk management protocols.
Long
by trading_jupiter
2
CADCHF: Accumulation & Indecision 🇨🇦🇨🇭 CADCHF is stuck between 2 key horizontal structures. The price formed a narrow range where trading volumes are currently accumulating. Depending on the reaction of the price to the boundaries of the range, I see 2 potential scenarios. If the price breaks and closes above 0.6532 the resistance of the range, it will be the important sign of strength of the buyers and with a high probability growth will continue. Next goal will be 0.657 If the price breaks and closes below 0.659 - the support of the range, a further decline will be expected, at least to 0.647. Wait for a breakout, it will give you an accurate and reliable confirmation. ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
1
CADCHF: Ready For Correction?CADCHF: Ready For Correction? yesterday after the Swiss CPI data the price moved down across many XXXCHF pairs proving once again that the CHF is not giving up easily. Today ahead of the BOC Interst rate decision the price stopped and is showing for a possible correction. it is risky as we are ahead of a big event and the price can move in many ways during these events. However, we can see a bullish correction from a technical point of view combined with some Fundamental Analysis! You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Long
by KlejdiCuni
2
CAD/CHF Day Trading analysis On CAD/CHF , it's nice to see a strong sell-off from the price of 0.66540. It's also encouraging to observe a strong volume area where a lot of contracts are accumulated. I believe that sellers from this area will defend their short positions. When the price returns to this area, strong sellers will push the market down again. The downtrend combined with the strong volume area along with the strong S/R area from the past are my main reasons for this short trade. Happy trading, Dale
by Trader_Dale
CAD/CHF may fall 25 - 32 pips0.6620 is our pivot point. Our preference The downside prevails as long as 0.6620 is resistance. Alternative scenario Above 0.6620, look for 0.6632 and 0.6639. Comment The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.6614 and 0.6621). Supports and resistances 0.6639 ** 0.6632 * 0.6620 ** 0.6615 0.6609 last 0.6584 0.6577 ** 0.6570 * 0.6563 ** Number of asterisks represents the strength of support and resistance levels.
Short
by Daniel_Thompson