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...
CADCHF..preferred to sell below 8325 or at 8390 if i see resistance and here are the reasons :
1- X A B in black now fibonacci 78.6 from X A beside three impulsive waves from A .
2-Completion of five waves.
3-Three days of weakness.
4-fibonacci retracement extension from RED A B 161.8.
5-Weakness in the...
CADCHF is still trading in channel. The 833 level seems to be a strong res. PA is currently trading at 835 levels and still no strength to make new highs. With nice RSI divergence a ret. to 8284 or 824 should happen soon.
Are we good to go? Is it a higher low, nicely placed at the lower median line parallel of the blue fork? It looks like CADCHF has found nice support at the 0.382 retracement, which is way above the half-way of the May rally and thus seems to be a factor conducive to further up trend advancement. I find the CAD to be very strong and to have a lot of latent bullish...
One of the strongest trends of the recent days have allowed this market to recover more than 61.8% of the last swing down (seen on a daily chart). Now 0.83 is in sight. It can be reached and breached, as such strong markets tend to test the upper median line parallel.
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Disclaimer:
There is a very high degree of risk involved in trading forex. I assume...
