ENTRY: 0.75909 SL: 0.76011 TP: 0.74850 Entered this trade off of a market execution. This is one of my friend and mentor's favorite pairs. on the 4H time frame I boxed out the consolidation zone. I waited for a break out of that box and the retest off of the Kijun. Other signals: - Break out of Kumo - Dark Future - TK Crossover Let's see what happens!!
CADCHF is spotted moving in a downward channel, wait for confirmation to short this pair... its gonna be a big sell in a longer term...
Inverted hammer + bearish engulfing candle, serve as appropriate sell signs and rejection confirmations. Good luck!
CADCHF is approaching its support at 0.7543 (38.2% Fibonacci retracement, Horizontal swing low support) where it could potentially bounce to its resistance at 0.7574(50% fibonacci retracement). Stochastic (89, 5, 3) is approaching its support at 9.1% where a corresponding bounce could occur.
On the hourly chart of CADCHF, a bearish divergent bar was formed at the peak of 5th Elliott wave. Strong sell signal. Trade levels are marked on the chart.
Wait for confirmations before entering this idea. 1H and 4H candle confirmations is ideal.
Short CADCHF @ 0.7568; TP @ 0.7417, SL your choice
CADCHF approached to resistance line.
CADCHF is approaching its support at 0.7441 (100% Fibonacci extension, 23.6% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 0.7515 (horizontal swing high resistance). Stochastic (55, 5, 3) is approaching its support at 5.2% where a corresponding bounce could occur.
Respected followers as we can see that CADCHF is moving below the 100 and 200 SMA and stochastic is overbought which means that CHF is going to be strong which pullback the market to downside.
CADCHF is approaching our first resistance at 0.7589 (horizontal swing high resistance, 100% Fibonacci extension, 76.4% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 0.7473 (horizontal overlap support, 50% Fibonacci retracement). Stochastic (89,5,3) is also approaching resistance and seeing a...
This is CADCHF After a fail break it will go down before it go up. I’m fading the momentum towards the sell side.