CADCHF: The market is reacting around a strong SWING!
Updated
Hello, everybody and welcome to Cybernetics Trading Lab, today we are going to analyse the CADCHF, translating the market information by using a full technical analysis on different time frames, giving you a personal opinion about the next most likely market movement and helping you to spot and manage market opportunities.[/I]
Higher timeframe:
Lower timeframe:
In HTF this market reached an interesting swing at around 0.71700, which reversed the direction the last March. At the end of September 2022, it approached on the current area, double topping and reversing, after it has been moving inside a descending channel for almost 6 months.
Currently, the price is correcting (still inside the structure ) with a possibility to see further bullish price action.
When, where and why would we step into the market?
The market is not ready for a long trade, not so much space inside the structure to enter long with a good RR, however, a breakout to the upside of the main structure would be an interesting entry point to take advantage of!
If you enjoy this trade idea, please support our work with a thumb up and don’t forget to follow our social medias!
Sincerely,
Cybernetics Trading Lab
Higher timeframe:
Lower timeframe:
In HTF this market reached an interesting swing at around 0.71700, which reversed the direction the last March. At the end of September 2022, it approached on the current area, double topping and reversing, after it has been moving inside a descending channel for almost 6 months.
Currently, the price is correcting (still inside the structure ) with a possibility to see further bullish price action.
When, where and why would we step into the market?
The market is not ready for a long trade, not so much space inside the structure to enter long with a good RR, however, a breakout to the upside of the main structure would be an interesting entry point to take advantage of!
If you enjoy this trade idea, please support our work with a thumb up and don’t forget to follow our social medias!
Sincerely,
Cybernetics Trading Lab
Note
During the week we could see an interesting breakout of the LTF structure! The price is currently reaching the main structure and we would like to see a sharp breakout before enter a long position!
Note
The market broke out the main structure and it's still continuing forming bullish price action.
We are looking to enter long if a continuation is confirmed!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.