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Cadchfbuy

CADCHF Uptrend ContinuationCADCHF has started a new uptrend and I was waiting for the pullback to enter LONG on this trade. Here are the things that I am looking for to enter this trade setup: 1. Price will retrace around 38.2 to 50.0 Fibonacci levels which both coincide with previous support and resistance areas. 2. Strong green candle has closed with its low touching the 38.2 Fibonacci level and above the 10 SMA (blue line). 3. BB shows strong momentum upwards as price is contained near the upper band and RSI is also showing a move upwards. Will enter this trade at 0.73250 with initial TP of 0.74750 to achieve a 1:2 RRR while setting a 75-pip stop loss, just about the size of the strong green candle.
Long
by CaptainHawk
Will CADCHF go up?Hey guys, another chart today, this time it's CADCHF's turn. As you can see the daily chart is giving us multiple reasons to look for long opportunities, and pay attention to the "look for" verb, it doesn't mean we're going to take the trade with no confirmation (since we're on the daily i don't trade patterns on the daily itself). Instad, i've outlined the structure zone that i think may push price higher and there i'm going to seek for candlestick formations in order to confirm my long bias. This way i can reduce my stop loss size but at the same time, take into consideration the bigger targets for extended targets. This is how powerful multiple timeframe analysis can be. I'll keep you updated. If you want to ask something or just share your view, post a comment below. Otherwise, see you in the next chart!
Long
by Roker1