Price is currently at the 50% Fib level of that bullish impulse so there is a potential extended bullish move to complete 100% of the retracement. Bullish divergence is evident.
SL has been marked.
TP has been marked .
Risk exposure - 1%
Risk to Reward - 1:2
Happy Trading ..
CADCHF tried recovering from the down fall but couldnt. The number of hours it used to retrace is much higher down the continuation hence letting us know how weak the CAD is getting and going to continue falling until key level Im watching
We can currently see this pair retracing thus gaining momentum and also creating bearish divergence for a potential bearish continuation. We can see the same setup on USDCHF. The grey line has been marked at 50% fib level of that bearish move. Should price move to the red line which is our SL, this would invalidate our trade idea. Our tp is marked at 100% of the...
CAD/CHF has broken its 8H 50 EMA support and entered into a bearish trend.
We can expect it to fall 100 pips as long as the 8H 50 EMA holds strong as resistance.
Trade safe.
Dear traders,
So as you can see we expect CADCHF to go short. We think it will go short because the markt is now in a strong weekly supply zone. If you zoom in on the daily chart you can see we are now also moving to strong supply zone that’s been filled right now.
It will be much clear on the 4h chart, you can see we are creating now a nice “M formation”. We...
Hi traders,
this is my trade idea for CADCHF for next week. This pair show us a RSI divergence plus a rising wedge what will broke to the down side.
The fibonacci retracements are the targets for next week.
Have a great weekend.
Your Stefan Forex
Hi Traders,
The CADCHF has just completed a zigzag correction which retested a swing level that lined up with 50.0 Fib ratio and descending trendline.
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The correction which is most likely wave (b) of Y of double zigzag pattern signals the continuation of the downtrend in the wave (c) of Y.
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Considering that traditional technical analysis agrees with Elliot...
Hello traders!
Today we have this beautiful CADCHF setup, after moving to the downside for a long time, now we have the chance to go long for the first time, however, before we can, we have some things we need to check first!
For a good and safe entry, we would recommend you to wait for a clean closure above our resistance level (you can look for entries in the...
I am anticipating a 38.20% 2H retracement before price rallies to the daily 50.00% retracement level for 50 pips (also the third daily trend line touch). If price breaks the daily trend line we can expect a rally to the next resistance zone (0.75550); However, if price rejects the trend line, I expect the continuation of the current downtrend for the next lower...
We broke and close a rising wedge continuation pattern on the last H4 candle close. Right now we are retesting the support trendline of the wedge. If we see a LL-LC after the retest (you can drop a timeframe to the H1 to look for this), expect price to move toward the targets. Move SL to B/E after TP1 is hit.
Goodluck!
