I would watch AUDCHF for the next few days when the week starts up. There may be a potential reversal coming as an important area is coming up. The price may bounce off the larger trend line or just above it where there is a strong resistance area. If price breaks this resistance line, this idea would be invalid. I'll be watching the price for reversal before...
I see a breakout possibly coming for GBPCAD. The price broke out of a bearish channel when it hit a strong support line just under .72000. It now seems to be in an ascending triangle right at the top of the resistance line. Watch for the possible breakout to go long if it breaks the resistance line.
I'm looking at the fact that this pair has been in what I think is a obvious support and resistance area for the most part of a year now. It did break for a short time but seems to have returned. These lines are a general area of where the support and resistance lines are in my opinion. I know there are a lot of different channels you can put on this pair. I...
In my opinion the hourly bearish channel will be breaking long soon. The daily trend line displayed since the beginning of the year is approaching and if you look at the daily chart, there is an ascending triangle pattern that has long been in the works. This is the reason I believe going long is the way to go. Please Trade at your own risk. Happy Trading.
This weeks short lived CAD bullish momentum seems to be slowing down. With that we have a good opportunity to go long with AUDCAD. This fits perfectly with the bounce off the trend line and a nice bullish candle starting to form. I would go long until the strong resistance level that has been formed around the 1.03400 area. This will give you a 2:1 minimum...
So as the title says, these setups are coming up in my opinion if the retracement continues. They are invalid if the price goes bullish past the current high. A short play until the markers could be made if you like the idea, but these setups are looking at the larger picture. We have been in a large bullish channel for a year now when it comes to USDCAD. We...
Going to watch the price on the CAD/CHF. It has already broken the bearish channel and is showing strength to go long. It has hit a key resistance in my opinion, and there are two scenarios that may happen. One is that the price will break the resistance area then I'm going long around the .72674 until the .618 mark which is another key resistance area. The...
This is my first post, so please forgive me for any mistakes. CAD/CHF seems to be in a channel for a while now. It is having trouble breaking the channel. If it returns back up the channel I'm going long until a resistance area or you could hold until the top of the channel. Getting around 2.5:1 minimum on the trade. Please trade at your own risk. Happy trading :).
