FX:CADCHF   Canadian Dollar/Swiss Franc


Here the rsi made a head n shoulder that corresponds to the top on price
The first pullback gave us a high tail on price which change the rsi channel direction
As the high on price that started the downtrend A is the right rsi shoulder
As the rsi made 1 and started the up channel . Let’s use 2 as the next rsi high spectatorial saying. From point A on price to 2 the market moved close to 1000 pips in retrospect to the rsi A and 2 is within the rsi range of A this means the rsi is moving way faster than price confirmation of a strong bear trend in this case..
so we can anticipate any price movements that breaks a trendline here will be sold down within the price range of 1 which will be the 2 as the second pullback and we can open trade on that fulfillment ..


No excuses
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.