CAD/CHF 's Double top formation on the Daily chart has finished forming around the .78 level; market has failed to create a higher high while respecting that long-term resistance level.
For Elliot Waves, the market has been patiently making the 123 impulse wave pattern, and now it has to go south in order to form the 4th wave.
the 4th wave may go down as long...
On Friday the market beat local support on CADCHF, which today was re-tested from below and rejected (as resistance). It should be noted that this level coincided with the 38.2% Fibonacci correction, where a strong supply response occurred. If today’s minima are defeated, we could expect continuation of declines. Therefore, consider short position on this instrument.
CAD/CHF 1H Chart: Channel Up
The Canadian Dollar is trading against the Swiss Franc in a two week long ascending channel.
Up until Tuesday the currency pair moved relatively smoothly within the figure.
However, then it suddenly failed to break through a combination of the weekly and monthly PP, which were supported by the 55- and 100-hour SMAs.
As...
Hi Guys, This one is pretty good, by looking at the potential of this move, this can go all the way to break the bottom of A wave to complete bigger ABC, A wave itself was pretty messy, so C wave can be also of the same nature, so take short terms trade like this one then wait for correction then sell again.this correction looks incomplete so let it complete...
Hey guys,
just wanted to let you know i'm looking for a reason to short this market. I've noticed we've already completed a Bat pattern and price wasn't able to close above X point, this means the structure held and therefore we want to pay attention to that. As of now though, i'm not short yet because i'm waiting for a confirmation on lower timeframes such as 1h...
Hey guys,
just wanted to let you know i'm looking for a reason to short this market. I've noticed we've already completed a Bat pattern and price wasn't able to close above X point, this means the structure held and therefore we want to pay attention to that. As of now though, i'm not short yet because i'm waiting for a confirmation on lower timeframes such as 1h...
Brief overview: Looking at the CADCHF over multiple timeframes, I believe there is an opportunity to short this pair. After the recent rally on the 4H chart, we can see price was met with a strong resistance and dropped back down to a recent support level. We have downward momentum on multiple timeframes and I'm waiting for confirmation before activating this...
Right now, I'm looking at a nice rounding top reversal that is in the works on the 4H charts of CADCHF. The pair has been in a steady uptrend for quite a while now and while the initial push up was very strong, the uptrend has been losing steam recently. We can see a nice flattening curve in the price action, culminating in a sharp sell-off with a very strong...
