Multi timeframe analysis trying to establish bias on BTC.
Waiting patiently, looking for convincing brake down of support that would confirm my bias and allow me to get into a short trade.
If I dont see what I want to see then there is no trade. Re-evaluate and look for opportunities that tick my boxes again when they present themselves.
Hi traders,
today on CADCHF price is coming back to retest a key structure area where we can look for selling setups in order to follow the latest trend here. As you can see it's like an ideal setup, when you see price breaking a support that then turn into resistance and push toward a downward continuation. Of course, we need some sort of signal in that zone,...
In history there is a strong move down, but this retracement is not strong enough at the moment. Looking for 2 possible setups:
1. Strong momentum up towards the trendline , good healthy rejection and break of the countertrend.
2. Strong momentum up towards the 110.05 level, which is a strong psychological level too. Want to see healthy rejection there and...
Key levels marked down on the chart, retracement towards major trendline, rejects at important key level longer term (redline), breaks lows of the retracement, take it short to level indicated on the chart. WATCH what price does around 1.0704, this is an important level. Decrease risk because of this level.
