Long on CADCHF. Double bottom in previous structure
Hi guys,
i've been looking at this pair for the whole week, and now i think i've found a nice trading opportunity for a counter trend trade. As you can see price has created a double bottom with RSI divergence in a zone that was already on my radar for being a daily structure area. RSI is in a divergence also in the higher timeframes and that's confirming my point of view. All that said, i'm taking this long, with stops as shown and targets as illustrated below.
If you have any question/idea, feel free to comment below.
Otherwise, see you in the next chart!
i've been looking at this pair for the whole week, and now i think i've found a nice trading opportunity for a counter trend trade. As you can see price has created a double bottom with RSI divergence in a zone that was already on my radar for being a daily structure area. RSI is in a divergence also in the higher timeframes and that's confirming my point of view. All that said, i'm taking this long, with stops as shown and targets as illustrated below.
If you have any question/idea, feel free to comment below.
Otherwise, see you in the next chart!
Trade active