Price is currently at the 50% Fib level of that bullish impulse so there is a potential extended bullish move to complete 100% of the retracement. Bullish divergence is evident.
SL has been marked.
TP has been marked .
Risk exposure - 1%
Risk to Reward - 1:2
Happy Trading ..
1) key fib zone
3) bearish pennant with 1-5 wave inside
Expecting nice sell positions to kick in, taking us down to the -27%, for around 100 pips (provided Oil doesn't push CAD further up)
1. This profile is for educational purposes ONLY!
2. The setups given are my own perspective of the...
Looking to open up some more positions on CADHCF from the previous setup. We had a break and retest on our 4hr CTL (Counter-Trend Line). Now the We're looking for a retest on the Daily CTL
-I Will be looking for a pullback to the trend line (0.7520) and then I will be waiting for reversal patterns to form around that region.
After a decent push down this pair has pulled back with a bearish engulf candle which suggests trend continuation. I've therefore gone short on this and marked tp and sl for you as well.
Let me know your thoughts.
Trade safe and good luck.
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ONLY 5% OF TRADERS are actually consistently profitable are you part of them if not yet what are...
Here we have a nice setup on CADCHF. As you have seen a decent rally in the past week and this pair has reached to a major level of structure and bounced back nicely with a bearish engulfing candle. I have gone short on this and marked the tp and sl for you as well. Wait for it to go up a little bit before entering short.
Let me know your...
CADCHF has approached Daily resistance (0.76200) will be looking for reversal patterns to form, As well as a break and retest on either of the 4HR CTL's or Daily CTL's (Counter-Trend Lines). If price does continue to the upside I will look for reversals patterns to form off of either (0.76800) or the DownTrend.
Here we go again...
Another buy opportunity and this time on CADCHF.
Daily time frame analysis shows this pair having strong bullish momentum. Price has reached a strong resistance zone where we may potentially see price retrace before moving bullish again.
I will be looking for price to retrace bearish to the 50% Fibonacci level whilst creating bullish...