CADCHF: Waiting for further CONTINUATION!Hello, everybody and welcome to Cybernetics Trading Lab, today we are going to analyse the CADCHF, translating the market information by using a full technical analysis on different time frames, giving you a personal opinion about the next most likely market movement and helping you to spot and manage market opportunities.
Top Down Technical Analysis:
In our previous post, about few weeks ago, we forecasted a potential upside movement considering the overall reversal bias.
The market clearly performed it, breaking the main high timeframe structure and it’s currently forming a potential continuation.
The momentum doesn’t look very strong, so it may form a bigger structure, retesting the zone 0.73500, 0.7300, creating deeper pattern where we would try to take advantage.
Overall in HTF a double bottom and breakout of the main structure, are clues enough to justify a further bullish movement.
In LTF a sequence of bullish small structures are moving up targeting the next swing high.
When, where and why would we step into the market?
Before entering long on this market, we will be waiting a greater entry, patiently waiting for the confirmation and formation of a bullish continuation pattern.
In the scenario of reversal and/or price not forming the expected price action, no action will be taken on this market and the overall setup will be invalidated .
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Sincerely,
Cybernetics Trading Lab
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose.
