Technician

Technical Analysis Basics: Support & Resistance #forex

FX:CADCHF   Canadian Dollar/Swiss Franc
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
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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
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mustard mantasg
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.
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mantasg mustard
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
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adding some chart as well thanks by the way for showing nice pair to trade :)
snapshot
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You are welcome. Not intended for trades, just a simple tutorial.
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Thanks for sharing, very useful.
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Thanks for the lesson Technician...:)
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thanks for you share . very good . although have no cadchf in my platform
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This is just for education.
+1 Reply
Thanks,very useful Tips.
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Good one . Thanks for Sharing this information
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