I will go short on this pair on the break of the red TL and moving averages. This opportunity is viable only on the break on the TL, before that we can expect a move up to 0.76366. On the break, I am expecting the market to go down to .68 to .67. Now that is 10 % downfall which also means that for a person who uses 1:10 leverage that's 100% return on the capital...
FX:CADCHF Tradingview should start think to remove the hashtags like "harmonicpatterns" and "gartley" from platform... We do not want to be sued by gurus ;) Gurus suffering from an huge equity drawdown ? Cruel state of mind, there are drugs in pharmacies! No comments... Now the chart: Major pattern completed and rolling; Eventual "rabbit" pattern (orange)...
head and shoulder. I'm just curious to see how it plays broke resistance level, was it a fake out or not.
Looking at the daily time-frame for cadchf , we can see that the pair is making a lower lows then a bullish correction . We have 2 fibs extension and inversion that comes @0.75585 and an abcd pattern completion + a bat pattern . Is this the end of the bullish trend !!!
We've bought Swiss franc, Bearish bat - see the chart I posted last week below.
Looking in from the monthly, weekly, daily, multi time analysis is suggesting and showing a huge strong down trend macd divergence. Got CHF CPI news coming up - up that is good and will help out our trade. Price has broken key .7000 level. TP Set at .69200 - will watch and may manually move to .68800 if there is strong momentum
Chart describes. Risk to reward can be minimal, I feel it is a great trade. Feel free to join this trade, comment any feelings you have towards it :) Thanks
This pair was so generous and bit my target giving me more pips upwards. However I stop going long here and I short from here. Happy pipping everyone. Forexgod
SEE DETAILS ON CHART. Yours truly, Forexgod. ****DISCLAIMER**** USE GOOD RISK AND MONEY MANAGEMENT. I AM NOT OFFERING SIGNALS OR FINANCIAL ADVICE. ALWAYS CONFIRM ANY ANALYSIS.
CADCHF bottomed out and retraced at 0.70000 but pulled back quite a bit. This looks like it is either a V bottom or overbought conditions. The trend has been fairly flat for the past 1000 hours so the wave pattern should continue.