ForceFollower
Short

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.
ForceFollower
2 years ago
I'm also watching this black median line set.
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Biff_Tannen
2 years ago
Master of Forks! ;-) Yes, the CAD is relative weak. Watching also USDCAD and CADJPY very closely with all the upcoming news today.
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ForceFollower Biff_Tannen
2 years ago
Thanks. :-) Yes, it's going to be a hot evening today.
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ForceFollower
2 years ago
The median line has been hit the second time. Let's see what happens next.
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HexVex
2 years ago
Great to see you're back! Went short to celebrate :)
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ForceFollower HexVex
2 years ago
I'm happy to hear that! :-) If my TP @ 0.7529 is hit, I'm going to get the best champagne and celebrate as well.
Btw, GBPCHF is bound to hit 1.4605 very soon. If you have free capital, you may consider going short.
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HexVex
2 years ago
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..
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ForceFollower
2 years ago
Price found support exactly at the lower median line parallel of the black fork. I wonder what tomorrow brings.
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rv ForceFollower
2 years ago
super.
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HexVex
2 years ago
What a day to choose for a comeback my friend! :) You could have a picked a quieter one.
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itaskar
2 years ago
this well confirmed upfork may still work, for now I am bearish as you are(not in trade because RR)
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ForceFollower itaskar
2 years ago
Thanks. We've got to keep an eye on your blue line.
I've also uploaded my other chart here: http://www.centralcharts.com/en/forex/5023-cad-chf-1h/
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ForceFollower
2 years ago
So far so good. Developing very nicely. If only I could step on the gas... :-)
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ForceFollower
2 years ago
If the upper median line parallel (black fork) doesn't stop the price, it may mean the end of the decline...
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ForceFollower
2 years ago
Looking bearish, but if resist. @ the orange S/R line doesn't hold, one may expect a breakout from fork & strong move up...
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