English : Minor support will be important level for this week. If this level can hold bearish power, medium bullish target at 0.8540 or at resistance trianle pattern. If this pattern break up, maximum bullish target at 0.8600 as double top. Pay more attention on triangle perform, if breakdown happen, bearish target at 0.8350
Indonesian : Minor support akan jadi...
Hi,
As you all know the long term bias for CADCHF is bearish. Just look at the weekly time-frame.
In the Daily time-frame we've seen a correction to the up side (that I called it A leg of a ZigZag) which lasted 201 calendar days.
Now I've waited for the B leg correction and as time unfolds it seems to be a Symmetrical Triangle which has already shown its "d...
On chart I find nice trade entry on SHS formation. We see at head of formation are very long this is becuse we hit support zone and in higher time frame is looking like we have abcd patter alsow (bearish formation) entry as always we take on neck line for more agressive traders and for more conservative i would order to take position below neck line from 5 to 10...
Failed to break classic support and resistance level, this pair continue down with maximum target at 0.8200
0.8395 will be hard level to break, and if rejection from that level, bullish target will be at 0.8580
note : at this moment daily channel up already break, and if bearish perform, will be very long term opening position.
Short term trade, there's a possibility of hitting the middle of the channel soon, I'll watch for an entry at NY's market open.
Big support underneath the current price, risk to the downside is relatively low, compared to the upwards potential.
Observations
1. Price broke a long term down trend line on May 13th 2014 and has since been going higher.
2. Yearly Pivot is still unhit @ 0.8719
3. The 1.618 Fib extension for the latest up swing is around 0.8700
4. Hidden divergence is seen (Price made a higher low while stochastic made a lower low)
Expectations
- I expect price will move up in the coming days...
In the previous chart published, the downside was only partially without the major follow through expected. See
So at the time only scratched trade at worse. It was based on weekly chart so not completely surprise and should have wider margin before completely discounting or calling it failure.
So revisiting this chart, overall all reasons given earlier are...
an inverted heand and shoulders has been completed and I am now monitoring for a neckline retest to go long.
The neckline support will be based on d1 line chart and I will be monitoring the neckline f6 area for a good test.
CADCHF bearish below 8600 and guess wave five end on daily chart .
first target 8400 then faces trend line break target will be 8300 and 8200.
break 8600 open target to 8730 .
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CADCHF after buy hit target i was talked about .and now RSI broken bullish line again .
and also touch trend line . i guess wave 5 end now and time to sell .
first target now 8400 break trend line target will be 8250 .
invalidation close daily above 8590 and target will be...
Hello again guys,
I'm here once more with a trade idea about a nice looking pair, CADCHF.
As you can see from my chart the Head and Shoulder pattern is completed and the neckline is broken.
I've also included my elliott wave counts and my targets.
The targets are based on Fibonacci Retracements and Projections combined with S/R.
(If you don't believe in...
CADCHF buy prefer above trend line .
and now touch beaish trend line break target will be 8385 above 8400 target will be 8500.
support now 8280 break target will be 8250 and 8215
and there is a clear MACD and RSI divergence .
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CADCHF break 8285 target will be 8205 below 8155.
hold on these level good to buy and target will be 8525.
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This idea is based on a combination of Elliot wave theory, Median line analysis and Fibonacci ratio's. The rationale behind this setup is shown on the chart along specific targets and stop losses. If you are about to copy this setup, please do so at your own risk. Good Luck
I really like this setup on CADCHF. First, we're seeing signs of CAD strength across the board; in fact I have a short GBPCAD position on as well. Moreover, price is clearly in an uptrend on CADCHF, and the pulllback since early July allows swing traders to buy the dip. I've got an order to go long at support at 8290, with a fairly tight stop (from the perspective...
