As we can see, the pair broke from a minor descending channel on the 4 Hour time frame, technically indicators showing we can expect higher bullish continuation.
The next resistance level 1.3762 and 1.3893
Please use proper risk management depending on your account size, Use lot sizes based on these calculations.
Here is a break down of your pip value in ZAR...
A Bullish-type Pattern5-0 occured near the support zone of 1.3480-1.3530.
Long after seeing the rebound. At that time, be careful of re-inversion in the resistance zone of 1.3730-1.3780 near point C.
Date / Time 18-Mar-2021 7:13:33 PM (EDT)
Type Market Order
Order# O4-8N-4N6F7N
Product CHF/CAD
Details Bought 50,000 @ 1.347220
Stop Loss 1.3365
Take Profit 1.363
LOve this trade based only on the fact of the higher low last candle.
CHFCAD TREND BREAKOUT, After a long term sell it finally broke out of the trend, we are waiting for the retest on the broken trend and a push to the upside
The Swiss Franc basket is at a key level. Since the COVID-19 peak in March, the CHF has been forming a solid descending wedge. Price has not broken below the 1.195-1.205 zone, although it has been tested. This zone was a pre-pandemic resistance, and has since acted as a support for the Swissie.
Currently, price is...
Multiple zigzag already painted out, we are doing another one. This means we can estimate where this latest fractal might max out at. Down we go. Goals are in purple, invalidation in red. And ofcourse, as always, do not take anything I say, including this update, as financial advice. I may be scoring 70-75% success on my predictions, but this does not mean you...
Over the last two days, CAD pairs have started to show strength causing the index to break above a descending trend line. Price seems it is still respecting the months long range this chart has been in. I'll be watching for CAD strength to show in the pairs. As the Index moves to the top of the range, new trends could form.
I've adapted my current Squeeze and MACD method which has proved to be highly effective so far by using real time trades to see whether the strategy works.
(By real real time trades I mean using the strategy and waiting to see how the market responds, not actually placing an actual trade.)
I've adapted this method to see if I can "clean up" and false trades and...
You have to be careful and analyze the price action before making the decision. We must think that nobody knows what will happen. I'm just trying to put the odds in my favor. Then the price will do what it has to do. So let's see what happens.
Maria Graells
- Favoring the bullish scenario. Possible bullish price movement towards the next resistance 1.4380 within the next period. Supported by Upward sloping Moving Average.
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IDC
