CADCHF is testing major support at 0.7716 (Fibonacci retracement, horizontal overlap support, bullish price action, bullish divergence) and a strong bounce could occur at this level to push prices all the way up to major resistance at 0.7851 (Fibonacci extension, horizontal swing high resistance).
Stochastic (55,5,3) is seeing major support above 6.4% where a...
CADCHF has broken major support-turned-resistance level at 0.7809 (Fibonacci retracement, horizontal overlap resistance) and remains below our Ichimoku cloud signalling that there is bearish momentum. Our next resistance is at 0.7830 which is above our 61.8% Fibonacci retracement and also at a swing high resistance. Price could potentially drop all the way to...
Price is moving towards the Daily resistance. However, there's oppurtunity to go short if price can break the minor trendline in H1. Bear in mind, we need the price to make bearish corrective structure first, then wait for breakout for better probability to short.
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Daily trend...
David T and I had a discussion over CC and he came up with this one... we susspect that it will go up again after that. to 0.79
Trade with care.
I do not take any responsability.
Manage your risk.
I just found this W-Pattern. I think there is not a huge drop due to solid Support.
Manage your risk.
I do not take any responsibility.
Have a good Trade.
One possible flag pattern on this pair with this strong support on higher timeframe.
looking for an long position if we gonna break the resistance level
Intro: CADCHF has made a bullish exit from its long term channel, we maintain our bullish bias unless it reintegrates.
Buy above 0.7400. Stop loss at 0.7360. Take profit at 0.7493.
Reason for the trading strategy (technically):
Price has made a bullish exit of our long term descending channel signalling that we’re likely to see a change in momentum from...
Intro: CADCHF has made an exit of its channel signalling a change in momentum, and also providing a great opportunity to buy.
Buy above 0.7400. Stop loss at 0.7360. Take profit at 0.7493.
Reason for the trading strategy (technically):
Price has made a bullish exit of our long term descending channel signalling that we’re likely to see a change in momentum from...
CADCHF has made a bullish exit of its long term descending channel, this is a huge sign for a potential bullish reversal. Our 1st support is at our breakout level of 0.7386 and we can see two major resistance levels at 0.7439 (Fibonacci retracement, horizontal overlap resistance) and 0.7469 (Fibonacci retracement, horizontal overlap resistance).
RSI (55) has also...
Sell below 0.7404. Stop loss at 0.7446. Take profit at 0.7318.
Reason for the trading strategy (technically):
Price is now testing major resistance at 0.7404 (channel resistance, horizontal overlap resistance, Fibonacci retracement) but we’re also seeing that it might be breaking out of our long term descending channel so we have to be careful and monitor price...
Hi guys,
i've been looking at this pair for the whole week, and now i think i've found a nice trading opportunity for a counter trend trade. As you can see price has created a double bottom with RSI divergence in a zone that was already on my radar for being a daily structure area. RSI is in a divergence also in the higher timeframes and that's confirming my...
CADCHF is now testing our long term channel resistance once again and a further drop could occur from this level as it has respected the channel so well so far. Our 1st resistance is at 0.7438 (Fibonacci retracement, horizontal overlap resistance) and our next support is all the way down at 0.7368 (Fibonacci extension).
Trading CFDs on margin carries high risk....
Sell below 0.7470. Stop loss at 0.7528. Take profit at 0.7376.
Reason for the trading strategy (technically):
Price is in a strong descending channel and approaching channel resistance once again. We look to sell below 0.7470 resistance (Fibonacci retracement, channel resistance, horizontal overlap resistance) for a further push down to 0.7376 support (Fibonacci...
Sell below 0.7543. Stop loss at 0.7612. Take profit at 0.7416.
Reason for the trading strategy (technically):
Price is in a strong bearish channel and we’re expecting more bearish momentum from price. Major resistance remains at 0.7543 (Fibonacci retracement, horizontal overlap resistance, channel resistance) and we expect a drop from here to push price down...
