Technician

Technical Analysis Basics: Support & Resistance #forex

FX:CADCHF   Canadian Dollar/Swiss Franc
2534 11 89
This is a clear illustration for how support and resistance change roles when a breakout occurs. This is not a rule that most happen, but it usually does.

Starting point at the latest higher low of the previous bullish trend .(It was a typo on chart, its higher low not higher high)

When a breakout below support materializes, the level usually reverses its role to resistance.


My best regards
Technician
Subscribe to my trading portal http://thefxchannel.com
If you dont want to miss any trade and see all the trades live, fully transparent. No bullshit like some others. Join my FREE channel here https://telegram.me/technician_forex_trades
mantasg
a year ago
clear short on you chart mate you see that big red candle enguilfing and now 2 daily smaller body candles coming back to enguilfing body
this is premium setup to short specially at this level
Reply
mustard mantasg
a year ago
You sound very confident so I assume you have traded short?

Consolidation throughout June and no clear direction for me as yet.

Please tell me how you have traded this pair in terms of risk/reward.

Thank you.
Reply
mantasg mustard
a year ago
I don't traded it at all because I don't falow this pair but yesteday technical post this education idea and I see nice setup what I am taking always. About risk best point to short it is above 0.75800 for entry use 4h 1h candles stop in any case have to go above enguilfing high target 1 is 0.745 target 2 double bottom target exactly at the same spot where is 61 fib of this all swing higher
Reply
mantasg
a year ago
adding some chart as well thanks by the way for showing nice pair to trade :)
snapshot
Reply
Technician TOP mantasg
a year ago
You are welcome. Not intended for trades, just a simple tutorial.
Reply
LucyW
a year ago
Thanks for sharing, very useful.
Reply
iznogood
a year ago
Thanks for the lesson Technician...:)
Reply
holy
a year ago
thanks for you share . very good . although have no cadchf in my platform
Reply
This is just for education.
+1 Reply
Siva PRO
a year ago
Thanks,very useful Tips.
Reply
avinashsawant
a year ago
Good one . Thanks for Sharing this information
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out