Hey all, the Trading Guru is back with another entry on a new series called 'Quick Updates'.
CADCHF Has finally shown us a temporary low in this massive bearish trend. This is not an easy moment to trade, there can be unexpected volatility, and there is not much historical price action to base your TA on. I am going to keep it simple for now and just share this scenario based on a support and resistance.
A first small rejection of the resistance has already happened, I expect it to continue a little bit. Eventually I do expect the price to attempt again and break through the resistance. Then, after a S/R flip the price can bounce off a newly found support and make a short uptrend. I believe the price will need to cool down a bit and will recover temporarily. This is where you can try to monetize this pair.
--- What is The Quick Update Series All About? --- I am starting a new tag (quickupdates) where I quickly share great opportunities based on TA for shorter timeframes, such as 4h, 1h, and 15m. It will not contain just a short explanation, in order to keep the velocity up and make sure you get to see the opportunities as fast as possible.
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- Trading Guru
-------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!