On the CADCHF is testing the consolidation support of .7380 with the ADX over 20 and the Stoch leaving the SELL zone and Oil in the SELL zone on the daily and 2hr respectively there is more of a probability that the bearish run is xoming. However for myelf I would have to see the BEARS reject the .7380. The target level I would be looking at is the .7250 area to...
After the corrective structure, it made an upward wave which can be the reversal impulse. Then it made a correction, and it looks like we have a lower degree reversal impulse at the end. Now, I'm waiting for a correction to place a pending order. My minimum target is the breaking of the previous top at 0.76470. Then we will see how far it will...
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Price action currently testing trend line started in Mid April. If holds should see a rejection to the sub 0.74 area. Beware of entering without proof of reversal.
CADCHF sale .74450
Target 0.73350, 0.73850
Stop Loss .75000
Mid Term Trade
Note: This is only for Educational Purpose this is not Investment advice.
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Previous view: Odds of a bull pullback are medium/high, stay bullish and buy at any low point while we don't break the 0.74400 bottom level, which will confirm the bearish pressure.
Actual outcome: Prices tested 0.74400 bottom level; although the was a tiny rejection, the bearish pressure has been confirmed.
Possible targets: @0.74000 (+30pips) and @0.73640...