Hey guys,
another chart today, this time it's CADCHF's turn. As you can see the daily chart is giving us multiple reasons to look for long opportunities, and pay attention to the "look for" verb, it doesn't mean we're going to take the trade with no confirmation (since we're on the daily i don't trade patterns on the daily itself). Instad, i've outlined the structure zone that i think may push price higher and there i'm going to seek for candlestick formations in order to confirm my long bias.
This way i can reduce my stop loss size but at the same time, take into consideration the bigger targets for extended targets.
This is how powerful multiple timeframe analysis can be.
I'll keep you updated.
If you want to ask something or just share your view, post a comment below.
Otherwise, see you in the next chart!
another chart today, this time it's CADCHF's turn. As you can see the daily chart is giving us multiple reasons to look for long opportunities, and pay attention to the "look for" verb, it doesn't mean we're going to take the trade with no confirmation (since we're on the daily i don't trade patterns on the daily itself). Instad, i've outlined the structure zone that i think may push price higher and there i'm going to seek for candlestick formations in order to confirm my long bias.
This way i can reduce my stop loss size but at the same time, take into consideration the bigger targets for extended targets.
This is how powerful multiple timeframe analysis can be.
I'll keep you updated.
If you want to ask something or just share your view, post a comment below.
Otherwise, see you in the next chart!
Comment:
Long setup:
