Looks like we will get that throwback to retest the channels and corresponding level. I will be looking for buys between 0.702-0.705.
CADCHF is testing major resistance at 0.7412 (Fibonacci retracement, horizontal swing high resistance) and it's starting to break out of our triangle formation. Our next major resistance is at 0.7434 which is a fibonacci extension, retracement and swing high resistance level. If price does drop, we're seeing it potentially going all teh way down to 0.7366 before...
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...
DIVERGENCE ON 4 HR AND DAILY, TL TOUCH ON WEEKLY 200 PIPS EXPECTED W 20 PIP DRAWDOWN
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...
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...
Short CHFCAD @ 1.3469; TP @ 1.3200, SL your choice
Hi guys, as you can see, the yellow box represents a good structure level that seems to be holding price above it. On the daily chart the price has gone oversold at the first touch of the zone and it's now creating a nice divergence on the 4H along with a double bottom. These are all signs that add together and that give me confidence about this trade. Please,...
Hi guys, as you can see, the yellow box represents a good structure level that seems to be holding price above it. On the daily chart the price has gone oversold at the first touch of the zone and it's now creating a nice divergence on the 4H along with a double bottom. These are all signs that add together and that give me confidence about this trade. Please,...