I've been tracking the selling of this pair for some time and I think it's time for a correction. Yesterday we saw a big sell off presumably to clear out some stops which lead to buyers coming in and an interesting daily candle close. That's just the story but if you're looking for technical evidence it's lining up nicely with the parallel dynamic...
In a failure Divergence pattern, "RSI" and "SlowStoch" indicators did not keep moving up and broken the previous up trend support lines. It could be a warning to exit the long trade. In a correct Divergency movement, the Price was positively moving to correct direction without broken the support line in "RSI" and "SlowStoch" indicators.
CADCHF is now in a bearish trend as i mention the target so you can take a long position in biuy to a projected target.
I can discuss this chart with you for a longer period of time because there is so much learning in this chart, why this chart is important for a Trend follower, for a candlestick pattern (Bullish bearish Engulfing, Doji, Three Black Crow, etc.) and for a pattern lover( Channel, Wedge, Pennant, Triangle, Rectangle) because it has everything in the chart...
The price has touched the long term big sideway channel bottom line area. There are some support in this area, so the price is wondering in this bottom area. The RSI and Stoch RSI indicators in 16 Hours timeframe are showing divergence pattern. I predicate the price would go to North and the idea take profit area is the big side way channel top line area on Feb...
"I am currently in a short position on the CAD/CHF pair due to the price reaching a supply zone where it is highly likely that the price will decline. After careful analysis, I have identified a significant resistance level in the form of a supply zone, where selling pressure is expected to outweigh buying pressure. This area indicates a strong selling...
CADCHF is trading under declining trendline and recently it seems like the sellers are bit exhausted then bulls took the charge and getting ready to break through declining trendline. Currently the price has given the breakout from falling trendline and now forming a local support around 0.6450 region. Will the bulls take charge again continue for leg higher?
The price could breakout of the buy entry and rise higher to the take profit level. Buy entry is at 0.64577 which is a pullback support. Stop loss is at 0.64268 which is a multi-swing low support. Take profit is at 0.64915, which is the multi-swing high resistance that aligns with the 78.6% Fibonacci retracement level. High Risk Investment Warning Trading...
Bullish outlook for 25 to 29 December,bearish also expected.
CADCHF is currently situated within a major demand zone characterized by the creation of multiple equal lows. A recent observation of a ChoCh pattern is a notable indicator for a potential reversal continuation. Anticipating a rally, our expectations extend towards the recent Order Block (OB) and potentially beyond, targeting the identified Major Supply zone.
Bullish indications: Double bottom formation in 1 hr time frame. Major support respected. Higher low made a bullish engulfer candle. Trend line resistance break out. Morning star candle in 4 hr time frame from support. Currently in ascending channel. Trade plan bias long @ 0.64643 SL:0.64414 TP1:0.64871 TP2:0.65072
CADCHF Buystop entry at FVG, ABCD apptern found with bullish Div. Lets hope for best
CADCHF is creating a bearish rectangle pattern. Setting sell stop order at the break-line of the bottom.
Overall trend is down. Selling from area of imbalance. Sl set above the orderblock. Making risk free at 1:1 rr. Huge liquidity wick further reasoning to go to the downside.
The price is on our buy entry and could breakout and rise to take the profit level. Buy entry is at 0.64574 which is pullback support level. Stop loss is at 0.64364 the multi-swing low support. Take profit is at 0.64838 which is the pullback resistance and it aligns with the 61.8% Fibonacci retracement level. High Risk Investment Warning Trading Forex/CFDs on...
✅CAD_CHF price grew again to retest the resistance of 0.649 But it is a strong key level So I think that there is a high chance That we will see a bearish move down SHORT🔥 ✅Like and subscribe to never miss a new idea!✅
When we have a look at the charts we can see that the price is forming some sort of a wedge. The big candle that we can see with the big spike out of the wedge can confirm this. What we now could do is trade off this and maybe make some little profit. Entry: 0.64522 SL: 0.64350 TP: 0.64945