CADCHF Short Term Sell IdeaH1 - Bearish trend pattern
No opposite signs
Until the strong resistance zone holds I expect the price to move lower further after pullbacks
Cadchfbearish
CADCHF Bearish Opportunity - Orderblock SMC FVG📉 CADCHF Bearish Trade Setup - Notable Orderblock SMC FVG Identified
🔍 Technical Analysis:
CADCHF presents a compelling bearish opportunity as it approaches the Orderblock SMC FVG zone.
Historical analysis suggests this area has served as significant resistance in the past.
Monitoring closely for potential bearish confirmation signals.
📊 Trade Plan:
Entry Point: Consider initiating a short position upon rejection or bearish confirmation within the Orderblock SMC FVG zone.
Stop Loss: Place above recent swing high to effectively manage risk.
Take Profit: Targeting potential support levels or prior lows.
🚨 Risk Management:
Employ sound risk management techniques, ensuring exposure is controlled.
Stay updated on economic events impacting CAD and CHF.
📈 Disclaimer:
This is not financial advice. Perform due diligence and trade responsibly.
👉 Note: Continuously monitor price action for real-time adjustments.
Happy Trading! 🌐💹
CAD/CHF Bearish BiasHi,
The price was in a downtrend until it started ranging for roughly about 12 weeks, it eventually broke the support of the range with a strong Bearish move but found support again at the 2020 low of around 0.6600.
Price retraced back to the broken support of the range which should now be quite a strong resistance and made a nice rejection doji on the Daily.
On the 4HR price is forming a double top, price action on the 4HR looks to be respecting the resistance and bears are trying to push lower from this level.
I will wait to see if the 4HR will close below the neckline and then sell on the retrace with TP2 at the weekly support.
Should the price go up and close above the right top or drop to the 0.6672 (breakeven point) level without a retrace the setup will be considered invalid.
This is not a signal and any feedback would be appreciated.
Thanks
