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CADCHF

CAD/CHF: Shoulder Head ShoulderCanadian Dollar/Swiss Franc look bearish in this side as we see a clearly Shoulder Head Shoulder (a bearish pattern). Because what we see that the price doesn't make a support, did you know? a weak as it's show us in this moment. This it's not a bullish signal, it's mean a market trap in formation that we would need to be pending in this trade. What I'm bearish in CAD/CHF. We see that the price forming like a little bearish rising wedge. In this screenshot, we see a perfect formation of this bearish chartist pattern!!! Shoulder Head Shoulder Now, we see this point that CAD/CHF it's in the higher point to sell. What we see a key point to remain in this purple arrow that I show you very well. But this signal it's bearish for who watching Now, I'm shorting CAD/CHF from $0.7302 CHF, Stop Loss to $0.7332 CHF (30 pips) and target profit to $0.7230 CHF (71 pips) Now, I'm not bullish and the bullish perspective what I sending the screenshot, it's not valid, what I update the information here, Good luck!!! Remember: For tomorrow we hope the interest rate decision by Bank of Canada, what hope to hike another 75 bps to 4%, previosuly was 3.25%. So, we hope this important event for Canadian currency.
Short
by harisonhbn9718
CADCHF - Trend-Following Setup!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. CADCHF is overall bearish trading inside the brown channel, and it is currently approaching the upper brown trendline. Moreover, the zone 0.735 in blue is a strong resistance zone . So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the blue resistance zone and upper brown trendline. (acting as non-horizontal resistance) As per my trading style: As CADCHF approaches the purple circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Short
by TheSignalyst
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