i've been looking at this pair for the whole week, and now i think i've found a nice trading opportunity for a counter trend trade. As you can see price has created a double bottom with RSI divergence in a zone that was already on my radar for being a daily structure area. RSI is in a divergence also in the higher timeframes and that's confirming my...
as you can see, the yellow box represents a good structure level that seems to be holding price above it. On the daily chart the price has gone oversold at the first touch of the zone and it's now creating a nice divergence on the 4H along with a double bottom. These are all signs that add together and that give me confidence about this trade. Please,...
cadchf sees support holding up nicely several times in the past days/month and now the market has formed a falling wedge pattern which compliments the support line that was currently tested.
rick reward is 5.5
CADCHF -0.75% bears has been pending for quite some time now and last week, we had a nice sell down from legendary supply zone .
However, friday's close did not break my support zone.
Perhaps CAD is stubborn because of the potential more bull in Oil 2.57% due to the dramas in Middle East?
Since xxx/CHF pairs are bearish at the moment, last week's price action...
as with every week i've just released my videoanalysis where i explain my views and my potential setups for the week ahead. In this week's video i explained one of the techniques that allow you to take trades wherever the market is going to go. If you want to see that and other pairs, feel free to click on the link below.
Give me some feedback too!
Traders, CADCHF was brought to our attention as it came and re-tested a weekly support zone and formed a double bottom on the 1hr timeframe. We waited from the break of the neckline before looking for an opportunity for a move to the upside. We will look to add in if we get a confirmed break of the previous daily high circled. Target the resistance at the top.
HUGE SELL occuring on the DAILY.
It looks like the price will finally loose its ongoing test with the resistance shown and plummet down to atleast the outer BBAND if not further down to SUPPORT shown.
This could big a long term trade as a SELL for the near future on this pair.
Waiting on the pair to break. Broke to the upside, currently retracing with a falling wedge (bullish pattern) near a critical zone awaiting on a bounce. Could break either way, but bullish movements seem more likely. Will buy once breaks
OBSERVATION: After hitting monthly resistance price fell to daily support which confluences with the ascending trendline that has been acting as support since June. A break below could see price drop to 0.74400s then 0.73400s while a bounce will see prices rise back to resistance.