Cadchf is still in an uptrend creating higher highs and higher lows. Price is currently testing support @ 0.7070. if price can manage to create a double bottom or provide another form of confirmation on a lower time frame i will be looking for opportunities closer to the support to reduce risk. it is also important to note that there is a strong level of resistance @ 0.7132 and price can reverse forming a head and shoulders pattern. At this point if a position was entered, a 1:1 target should already have been achieved and stops at break even. if price breaks that resistance however. we can further target the previous high @ 0.7855.
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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.