Hey guys,
i'm not trading until the new year but i want to give you some educational content.
On the left hand side we have a daily chart. As you may see recently we broke to the upside two big resistance levels and now we are coming back to retest this level.
The break and close above make me think the trend has changed and i think we may see another upmove.
As...
DISCLAIMER: Hi everyone, I'm new to trading and this is just a log book for me on applying everything that I have learned and continue to learn as I go along. That being said, I do not advise you to base your trading on these "ideas".
So I've had a pretty crappy week of trading. Lost my focus last week after leaving money on the table on a trade and messed up my...
CADCHF breaking through longterm trendline going back to May 2010. Also from 23-month triangle.
Longterm trade - nothing for daytraders! Decisive close above 0.7650 will allow to add. Next add if weekly close above 0.7740.
Strong oil supports CAD. USDCAD could follow.
CADCHF pattern looks more like the formation of a broadening bottom. Now that it touched the top of the trendline, it is possible to have a pullback. Pullback can be mild or can retrace around 61% of the impulsive wave. This kind of patterns are generally bullish. I am expecting a pullback to get in to the wagon.
Cadchf seems good buy around current level
0.7560 tp 0.7480 . As its holding Strong support
around 0.7450 level
also holding above daily,Weekly and monthly
pivot point if hold above 0.7440 we can see
upward move towards 0.77-0.7750
Advice to buy in range of 0.7560-0.7480
sl below 0.7430 TP 0.77
There is a 1 year Rectangle Pattern forming on CADCHF. Pattern is still to be completed. 0.7240 has proven to be a very strong support. Possible test of the low which could result in a great long term buy entry.
If bulls manage to break the 0.7727 resistance, the long term bearish market will be finished. We see two bullish signs:
- An inverted head and shoulders pattern
- Bullish divergence
By breaking the 0.7727 resistance, the neckline of the H&S pattern, plus the multi-year downtrend line and the latest peak will be broken and there will be no doubt in the coming...
Strong price action gapping higher. Big rejection of the 0.73 level.
Buy order on break of previous candle's high at 0.73745
This will also break the down trend line from Mid-October
CADCHF been channeling since Maj 2016, in a great way! But this time the channel lower TL meets with a very good support area which make me look very close for another opportunity to trade a new swing and this time is up!
Oil is also in a PRZ area, that give us another reason to watch this pair closer.
As always we don't just place orders just coz we have a good...
