CADCHF: Accumulation in progress?
After hitting the low on 11th Jun into a W1 DZ, price reacted strongly the next day with a D1 Bullish impulse. Price pull back the following Mon but still manage to close at the high of the day. A sign that Bulls still in control? Thereafter, price consolidated for the next 4 days and closed in the mid range of the week. If you notice, outta this 4 days consolidation, 3 of the daily highest volume H4 bars are registered on the down move(Sign of strength?). I see this consolidation as a possible accumulation for a Bullish breakout in the coming week. Price might do a stop hunt off Tue low towards the H4 DZ created on Mon before breaking up higher. Will be watching this closely for a potential LONG trade.
DISCLAIMER:
Any opinions, analyses discussed in this presentation are just my personal opinion and do not constitute investment advice.
I do not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
PRICE ACTION only tell half the story. The other key half is VOLUME. For VOLUME drive price.
DISCLAIMER:
Any opinions, analyses discussed in this presentation are just my personal opinion and do not constitute investment advice.
I do not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
PRICE ACTION only tell half the story. The other key half is VOLUME. For VOLUME drive price.
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.
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.