CADCHF: At Potential Reversal Zone

FX:CADCHF   Canadian Dollar/Swiss Franc
2617 9 59
CADCHF At a potential reversal zone, downside is favored:
  • The price has completed a three drives pattern at the 1.271 extesnion for the latest bearish wave
  • The price is near the main overhead resistance area among 0.7565-0.7650
  • The 200-days SMA is around current levels
  • Stochastic is overbought. Meantime, the overall trend remains bearish .
Targets and stop are outlined on chart

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it seems to go to the north.
+1 Reply
Well, the trade is still valid. Not stopped out yet.
wicroy Technician
good luck for us.
Congratulations! Your chart has been selected to be highlighted as the post of the day.This is a great example of using multiple forms of analysis to complete a trade idea.
+1 Reply
Technician PRO walker.england
Thanks Walker.
is not a sell yet but any time soon. First I think will have to see a impulsive move down making a lower low on H1, then wait for the retracement. then is a straight shoot down. Is also on bearish divergence on H4 since the 30.10.2015.
thank's for posting
+1 Reply
Always thanks for your input.
ValeriuV Technician
Hello Tech, this is the move down on I was waiting. Now if you realy want to play it safe you should wait for a retracement into the 0.7540's and sell it with a better RR. Took some time to play itself out but you were wright. I guess you are in the position to add to the sell. Your stile is a little more agrressive than mine.
My View
+1 Reply
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