FX:CADCHF [/symbol If you want to use this idea, please risk only one percent of your account balance.
Buy @ 112.932. Great R:R!
Expecting a flat correction on this pair with the C wave starting soon. We are in a longer term uptrend though, so i will be looking for buys if the price gets to the 1.23-1.235x area. Swiss franc looks strong to me for the next couple days so ill be looking to buy CHF in other pairs like Eur/Chf or Chf/Jpy.
Price broke the two-year uptrend line to the downside. I do not see any major resistance until 0.67. If we get there we could see signs of relief and start trading in a channel between 0.67-0.773 before new structure levels are tested.
This set-up is a short 2618 trade but since the market was so kind to give us a triple top instead of only a double top, I call it 3618. Enter short from the 61.8% retracement at 1.02341 for a move back down to previous lows.
sell@1.28611
sell @ 1.25541 nice daily resistance around X-level as protection
sell @0.99010 strong weekly resistance at 0.99 (red line) providing upside protection.
Pick your entry and sell at D completions of these advanced patterns respectively! I will enter them all but with reduced risk for the two cypher patterns (turquiose and green ones) and use normal risk for the bat (violet).
My FX portfolio currently consists of : - 2Long x USDJPY @ 106.8; 2Short x GBPJPY @ 151.2 (dynamic hedge for long UJ); 2Short x GBPUSD @ 1.4570. I will add to my short GBPUSD holdings if i can get a similar price & I may add to short GBPCHF or EURCHF downside if markets make a turn for the worst as IMO CHF denominations are under-priced relatively (as discussed...