CADCHF: At Potential Reversal Zone

FX:CADCHF   Canadian Dollar/Swiss Franc
2599 9 58
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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My Best Regards
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Cad-Chf Setup
+1 Reply
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.
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 TOP walker.england
Thanks Walker.
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.
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