digitaltradingfx
Short

Make up for missing USDCHF breakout with this CADCHF #forex

FX:CADCHF   Canadian Dollar/Swiss Franc
117 0 0
Summary

Scenario : Long
- Looking for a bounce of the blue trendline, followed by a break of the red trendline, with entry upon reversal to the red trendline. This reversal will have to be spotted on a lower TF. I think this scenario is highly improbable seen as CADCHF             and USDCHF             are about 90% correlated with this being a slower less reactive version of USDCHF            

Scenario 2: Short(More probable)
-Looking for a break of the lower blue trendline, of the upward facing blue channel. A retracement to it will be a good point of entry and this can easily be spotted on a lower TF. This is also further supported by the presence of a hidden bearish divergence on the rsi (14).

SL:0.82197

TP:077144

TP1 50% of TP



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