Price Action (Technical Analysis): Spotted a potential Inverted Head and Shoulders Pattern at Key Support Zone while in an Oversold Market in Weekly Time-Frame. We have a Bias that price needs to press up due price pressing down to Weekly low in this Triangle Trend (Weekly Time-Frame). Our last resort to continue this idea would be price rallying at the 61.8%,...
Price is in a downtrend making lower lows & highs. Price has broken through support structure, & am anticipating a pullback to retest broken support as new resistance to create a lower high, where a trend continuation to set a lower low next can occur..
Hello and welcome to my Trade Idea of the currency pair CAD/CHF:
Lets start with the Top Down Analysis.
Monthly: On monthly we see the currency pair has made L.H (Lower Highs) and H.L (Higher lows). In summary, the trend has made a Pennant.
Weekly: We've been seeing more lower highs lately which confirms the trend is bearish.
Daily: We see a trendline, and...
CADCHF bounced off its support at 0.74721 where it could potentially rise further to 0.75198.
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0.79500/0.78700 zone - Major resistance respected since the impulsive move in January 2015 and since May 2018, the price has been going below this resistance.
This indicates that demand is dropping.
There will be publications in lower time frames soon as the reaction of price is been monitored.
CADCHF have such strong support with that bearish momentum, which suggest that market will high likely to pass it.
You may experience after breaking it, a little bit of slowing down on 1H timeframe after passing it, just protect yourself above resistance levels and keep it going.
I'll try to update this idea to catch resistance levels so you can trail your...
What can we see:
1. Descending trend-line, third touch ( anticipating further downside mvnt if oil can break lower)
2. Inserted the fibonacci tool. The 61.8% fib level lies on the Weekly key level, therefore looking for a sell from Region
What can we see:
1. Previous rejections off the zone indicating sellers in...
CADCHF is in a solid range for a a very long time,,we can expect price to drop downwards of 73800 to the bottom of the range
opportunity presents a good 140-150 pips with as little as 3% risk for this trade
I'm running out of space for still readable chart on daily timeframe :)
It again has chances to bounce lower from the box, but is not ripe yet. Will be watching it in next week.
Linked ideas provide more insight.
Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
CADCHF in Daily Time frame Following Channel Pattern
We can also see there Uptrend line which has broken
Channel patterns. Channel patterns are types of sedimentary deposits formed by streams and rivers. Collectively, they are called fluvial deposits. Their shape and sediment characteristics are easily identified and enormously complex.