No entry until correct rejections. Also, it's tuesday (we need some volume). This is technically not the ideal inverse head and shoulder which is a bullish reversal in a downtrend, however the technicals are there, the support and the confluences/keylevels add up so it's being posted for record.
14:34:50 (UTC)
Tue Apr 28, 2020
Hello dear subscribers!
This chart shows that there are two pattrens (inverted saucer and bearish flag).
If the price reaches the level of 0.68000, then this is a sell signal.
Good luck to you.
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This idea does not provide the financial advice.
CADCHF now is going to finish Wave4, forming minor W5 of major Wave C.
IF it this wave,Wc, is forming ending diagonal at this time,so terminal of Wc should Be at 0.70326-0.70248 Level, calculated form confluenting Fibo Projection ; W5 < 0.618 of W0-3, and projection of W5< 1.0 of W3.
However, Last time H4 it's already formed Horn Pinbar at Key level, it imply...
📢CADCHF 4H - Technical Breakdown
📈Price action has successfully broken through the clear up-trend and has since re-tested the prior support.
📈A short opportunity from the current market price presents a 1:3 RR trade aiming to bank 150 pips down to the highlighted support at 0.67300.
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💡 CADCHF technicaly based idea, candlels formation good bearish, we can see price is bounce from trend line,...
CAD CHF will continue short downtrend at first movement, then it will rais upward and goes uptrend.
So if you decide to take short position at the beginning of movement, just start selling with putting STOP LOSS at the top of the resistant line,
But if you prefer a long position use buying after it moved to the bottom of the movement at the near place of support...
Fundamental View
Crude OIL OPEC meeting has been delayed.
Collapse of OIL is possible as well as CAD.
As illustrated above .It has formed a bat formation.
Since Fake breakout can be seen as well.
Price has retraced and formed exact bat formation.
R:R is clearly mentioned above.
Let's see where market opens for further confirmation..
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