CADCHF Rising WedgeDetails on the chart.
Position is activated.
Always use proper risk management.
Happy Trading!
Cad-chf
CADCHF approaching support, potential bounce! CADCHF is approaching our first support at 0.7533 (horizontal swing low support, 23.6% Fibonacci retracement) and broke out of our short term descending resistance line where a strong bounce might occur above this level pushing price up to our major resistance at 0.7648 (horizontal swing high resistance, 100% Fibonacci extension).
RSI (55) is also seeing a bullish exit and we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
CAD CHF shortdouble bottom formation with rising wedge
we can open short at this level with 1:1 risk reward
good luck
CADCHF approaching resistance, potential reversal!CADCHF is approaching its resistance at 1.0954 (38.2%, 50% & 61.8% Fibonacci retracement, horizontal overlap resistance) where we price could fall to its support at 0.7476 (61.8% & 50% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 95% where a corresponding reversal could occur. We have also identified a bearish divergence with price.
CADCHF Approaching Resistance, Prepare For A ReversalSell below 0.7551. Stop loss 0.7597. Take profit at 0.7476.
Reason for the trading strategy (technically):
CADCHF is approaching its resistance at 1.0954 (38.2%, 50% & 61.8% Fibonacci retracement, horizontal overlap resistance) where we expect price to react, causing it to reverse and fall to its support at 0.7476 (61.8% & 50% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 95% where a corresponding reversal could occur. We have also identified a bearish divergence with price.
CADCHF Buy SetupCADCHF Details on the chart.
Waiting for a 4 hour break and close above the weekly price reversal zone, resistance zone & 50% fib for confirmation.
Happy Trading!
CADCHF Testing Resistance, Potential ReversalCADCHF is testing its resistance at 0.7550 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap support) where price could drop to its support at 0.7399 (horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 95% where a corresponding reversal could occur.
CADCHF Approaching Support, Potential Bounce!CADCHF is approaching its support at 0.7432 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where price could bounce up to its resistance at 0.7609 (38.2% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 3.03% where a corresponding bounce could occur.
CADCHF heading down to .74 areaBeautiful break of up trendline and in a down trending channel. Today price retested the upper downtrend channel resistance and now flowing down. This Pair from last week it has a very unique pattern, wiith in the downtrend channel when ever price spike up bears just grab and bring this down to fib 100% extension. This Week's spike is no different, failed spike and now its flowing down
CADCHF - LongFX:CADCHF is at support level
the CHF is a strong currencie today but this level of 0.7565 prooved to be a good support
Also price rejected this level
Im going long
Updates will be available
CADCHF reversed nicely off resistance, potential drop!CADCHF reversed off its resistance at 0.7613(61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it could potentially fall to its support at 0.7569 (horizontal swing low support).
RSI (89) is held down by a descending resistance line and the ichimoku cloud shows signs of downward pressure which contributes to our bearish bias.
CADCHF bounced nicely off support, potential rise!CADCHF bounced nicely off its support at 0.7568 (50% Fibonacci retracement, 61.8% Fibonacci extension, horizontal overlap support) where price could potentially rise to its resistance at 0.7685 (38.2% Fibonacci retracement x2, horizontal overlap resistance).
Stochastic (89, 5, 3) is approaching support at 5$ where a corresponding rise could occur. We have also identified a bullish divergence with price which contributes to our bullish bias.
CADCHF ShortAs we can see from the diagram, a nice Head and Shoulders pattern unfolding on the Daily timeframe on this pair. BoC's hawkishness provided us the spike up today to form the right should and the price was stopped at old broken support that has now become resistance. Moreover, the price is capped on the topside by the 200EMA. We also have the bearish crossover on the MACD.
I expect the price to move down over the coming days.
