CADCHF- Ascending channel
Updated
Technical Analysis:
-From the 4 Hour and 1 Hour chart show strong bullish momentum.
-Price has been trading in the ascending channel since 27th April.
-We should look for a long entry on the retracement of the liquidity zone
-According to the algorithm I use, price could shoot up to 0.59% and tomorrow with a 0.75% gain to the upside.
-This is a good indication to enter long for this position.
Fundamental Analysis:
- There are are no high impact news for today which will affect the pair.
- However there is a major impact tomorrow on the Cad as they are announcing their GDP Reports at 1:30.
- I would advise to not trade around these times as price will be very volatile.
Sentiment Analysis:
- According to market sentiment, 83% of retail traders are short on this pair.
- Normally I would go against the retail traders as 90% of them lose their capital.
- Asset managers/industrials and Leveraged funds are all placing long positions for this pair.
Lets see how this trade plans out!
Make sure to Follow, like and comment your ideas for this pair!
-From the 4 Hour and 1 Hour chart show strong bullish momentum.
-Price has been trading in the ascending channel since 27th April.
-We should look for a long entry on the retracement of the liquidity zone
-According to the algorithm I use, price could shoot up to 0.59% and tomorrow with a 0.75% gain to the upside.
-This is a good indication to enter long for this position.
Fundamental Analysis:
- There are are no high impact news for today which will affect the pair.
- However there is a major impact tomorrow on the Cad as they are announcing their GDP Reports at 1:30.
- I would advise to not trade around these times as price will be very volatile.
Sentiment Analysis:
- According to market sentiment, 83% of retail traders are short on this pair.
- Normally I would go against the retail traders as 90% of them lose their capital.
- Asset managers/industrials and Leveraged funds are all placing long positions for this pair.
Lets see how this trade plans out!
Make sure to Follow, like and comment your ideas for this pair!
Trade active
Trade closed: target reached
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