CADCHF trap into long term consolidation zone, and its already 2 years and 4 month from April 2015. If we look at 4H timeframe, CADCHF already touch and bounce from resistance channel To better confirmation for this setup, wait for parallel channel up break down, and also break down bearish confirmation level at 0.7666 with this setup, we aim for +500 pip at 0.7169
Entry point : 0.7684 Stoploss : use your money management rules Target : 0.7169 target in pips : +500 pips Risk reward ratio : Up to 1/9.22
Disclaimer : This analysis not include personal feeling/opinion, and pure base on technical analysis Trading foreign currencies can be a challenging and potentially profitable opportunity for investors. However, before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose.
please inform me with post a comment if it reach some critical point/break pattern, reach target/reach stop level. or if there is any question about this analysis/need new update. Because im not monitoring this chart all time.
May i know why your entry point will be at 0.7684 but the bearish confirmation on 0.7665?
will it be more safe if entry at the bearish confirmation point?
AzrulAzir
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@kenyck2002, i enter at resistance major trendline, with small stoploss. But still not update my analysis, and wait for the right moment to publish it. Because publishing an analysis we must extra careful, many people see and trade base on our analysis, and we must avoid any kind of small mistakes
kenyck2002
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@DianKemala, thanks ans appreciated your response.
banffstocker
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Im not sure yet that bullish candle on the weekly looks scary
AzrulAzir
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@banffstocker, thats why we need bearish confirmation. I already jump at resistance (aug 1), but not publish my analysis and wait for a perfect time to post this.
iggytsotetsi
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@DianKemala, this is a game of waiting thanks for the analysis
will it be more safe if entry at the bearish confirmation point?