CADCHF expected to rise up to 1st resistance at 0.74878 where it could potentially react off and drop down to 1st support at 0.75695.
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The price range and Fibonacci resistance specified in the image are the appropriate range for selling this pair. The loss limit of this analysis is specified in the image. This analysis needs triggers. Note the timing of this analysis.
Cad Chf Has A Daily Triple Top. If you use a Fib Retracement tool you can see that literally every level is acting as support.
This is a triple top trend reversal pattern on the daily chart. This means that price will move down very far and then the pullbacks can be up to 50 pips...
So we have the high , we need a low, then we need a higher low, and a lower low....
Just To Give Everyone a good idea of how rewarding a triple top on the daily time frame is , just look at the green box from the past....
Look at the last big triple top (Even though there was consolidation in this triple top that made the breakout more powerful) , just look at the black trend lines to see how far down the trade moved after that!
This trade has...
Traders! if you like my ideas and do take the same trade like i do, please write it in comment so we can manage the trade together.
CADCHF SELL @0.75394
LINK IN BIO!!
the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting...
The CAD/CHF pair reached an important resistance level on the daily chart. A horizontal resistance zone aligns with the upper resistance of a falling channel. Also, notice the bearish RSI divergence, signaling a potential fake breakout and reversal.
- Horizontal resistance zone
- Falling channel resistance
- Bearish pinbar
- Bearish RSI divergence