FX:CADCHF Canadian Dollar/Swiss Franc
This chart doesn't need many words as the uptrend is clear and the last correction filled the whole range of this trend. Now it has to break to the upside in order to continue this trend. Once it does so I have a buystop@ 0.9625 with a target just under the last high at 0.9907. As can be seen by the ADX, which is sitting just under 20, we do have to wait for another move above this number to start a new trend (hopefully going north). So far, I remain on the sideline until I see some encouragement in any direction. Almost needless to say that if the red linie at 0.9457 will fail to act as last support I would switch my general view to the short side.
Thanks for showing me your clear cut chart. Yes, I see what you mean...this entry would coinicide with a touch of my trendline...but this fast reoccuring touch ( if it does come back) in such a short time -although it is a nice tempting level- makes me want to wait to see if it bounces off this trendline or if it is already exhausted and buyers are surprised that the price coes back so fast... If it does bounce I am pretty sure we have a real winner...it might put in a buylimit besides my buystop for a small position at your level just in case....cheers...and let´s keep it up...