Hello everyone, as we all know the market action discounts everything :)
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CAD/CHF has started this week's session with a great Bullish movement crossing all the daily resistance lines and seems to be gaining more momentum by the hour.
Here we have cadchf as we can see it has been taken support at the lower side we have form here I am looking for long position from here
Say yourself to motivate
Treading is very easy
And I will control my emotions here
price makes a movement and now it looks like make a double top and last movement in little time frame price already make a double top and already breakout the neck of a double top, now maybe price will breakout the neck of the double top in 1H time frame.
What I see in this pair is quite nice and as clear as possible, as you see in the chart,
Blue area you see just above the price is strong supply which price reacted to it perfectly, you can see they pushed price lower and lower after reaching to its strong supply,
Price were moving in strong uptrend channel , which 2 weeks ago that channel were broken to down,...
CAD/CHF (H4 Timeframe)
A high probability, to go LONG is forming @ 0.74762 after the market found support @ 0.74069. Only the downward break of 0.74069 would cancel this bullish scenario.
Stop loss: 0.74069
Take profit 1: 0.75127
Take profit 2: 0.75780
Take profit 3: 0.76845
Strategy: Bullish Breakout
CAD/CHF Multi-Timeframe analysis
H1 CHART ( BULLISH )
A very high probability, entry signal to go LONG was given at 0.71104 after the market found support at 0.70829 . Only the downward break of 0.70829 would cancel the bullish scenario.
Support & Resistances
H4 CHART ( BULLISH )
CADCHF is currently creating a beautiful Head and Shoulders formation. Price has already broken bullish trend. More risky possibility is to open sell entry now and put your stop above resistance or safer one is to wait until price breaks neckline to take short.
We sure did see a lot of volatility today, didn't we? Well, here we are now with a new short position in CADCHF, with 2 strong support levels breached in this pair. The next support level has become the target level for take-profit. This level is 0.69050. I don't see this pair making a big move otherwise.