CADCHF at the Median Line

FX:CADCHF   Canadian Dollar/Swiss Franc
218 15 6
After a long rally CADCHF             has finally found dome support at the median line of a downsloping pitchfork . The Swiss franc             is no longer as strong as it used to be in the second half of January, but the CAD remains relatively weak. It looks to me like this market could do with a bit of correction: probably down to 0.77, but if it gathers bearish momentum, it might go down as low as 0.75, perhaps even down to the lower median line parallel.
Looking bearish, but if resist. @ the orange S/R line doesn't hold, one may expect a breakout from fork & strong move up...

+1 Reply
If the upper median line parallel (black fork) doesn't stop the price, it may mean the end of the decline...

So far so good. Developing very nicely. If only I could step on the gas... :-)

+1 Reply
this well confirmed upfork may still work, for now I am bearish as you are(not in trade because RR)
Thanks. We've got to keep an eye on your blue line.
I've also uploaded my other chart here:
What a day to choose for a comeback my friend! :) You could have a picked a quieter one.
Price found support exactly at the lower median line parallel of the black fork. I wonder what tomorrow brings.

rv ForceFollower
+1 Reply
Took profit already for GBPCHF. Thanks! :) And well done! If we hit 0.7529 on CADCHF 3 bottles of champagne might be order :P Most my spare money is tied up shorting GBPAUD targetting the 100DMA now..
Great to see you're back! Went short to celebrate :)
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