CADCHF - Trend-Following Buy Setup!
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CADCHF is overall bullish and approaching daily support so we will be looking for buy setups on lower timeframes.
on H4: CADCHF is forming a channel in orange but the upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)
Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone)
Meanwhile, until the buy is activated, CADCHF would be overall bearish can still trade lower inside the blue support before going up.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
CADCHF is overall bullish and approaching daily support so we will be looking for buy setups on lower timeframes.
on H4: CADCHF is forming a channel in orange but the upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)
Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone)
Meanwhile, until the buy is activated, CADCHF would be overall bearish can still trade lower inside the blue support before going up.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Trading Made Simple; and Rule-Based
RichTL.com
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instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
Best Crypto Exchange
coincall.com/r/thesignalyst
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