It's not late to jump in and ride the short term wave for 60+pips.
Strategy: Shift in Direction
There is BOS and Correction to 78.6% fibo level of the swing that caused the break. I expect price to grow to my target 2, but first, i have to cover the cost by taking profit in-between.
LET ME KNOW HWAT YOU THINK (LIKE, COMMENT AND FOLLOW ME PLEASE)
What I see in this pair is quite nice and as clear as possible, as you see in the chart,
Blue area you see just above the price is strong supply which price reacted to it perfectly, you can see they pushed price lower and lower after reaching to its strong supply,
Price were moving in strong uptrend channel , which 2 weeks ago that channel were broken to down,...
CAD/CHF Multi-Timeframe analysis
H1 CHART ( BULLISH )
A very high probability, entry signal to go LONG was given at 0.71104 after the market found support at 0.70829 . Only the downward break of 0.70829 would cancel the bullish scenario.
Support & Resistances
H4 CHART ( BULLISH )
CAD/CHF Signal (4H Timeframe)
A medium to high probability, entry to go LONG is forming @ 0.70607 after the market found support @ 0.69993. Only the downward break of 0.69993 would cancel this bullish scenario.
Stop loss: 0.69993
Take profit 1: 0.70969
Take profit 2: 0.71583
Take profit 3: 0.72584
The Darkest hour is that before the down, the great hope and light which always draws you towards itself. In Elliott wave analysis, these sparkling lights are the patterns, and when we encounter a pattern, we can build the whole path. What we have learned in Elliott's rules is the importance of the patterns, the most valued of these patterns are Diagonal and...
CADCHF break out daily wedge pattern and now restest the wedge trend line.
The price created a long range move between the 0.68 and the 0.70 level.
If the market will hold the bullish momentum according to Our strategy we can win this buy trade.
Happy Friday! We are evidently bearish on CADCHF so longs have been closed at -46pips. I'll be looking for price to retrace at least to our entry point before potentially advancing lower.
A major attribute you ought to adopt is the ability to trade what you see and not what you think. The market will speak clearly only if you are willing to listen....