Possible good short situation with head and shoulders.
CADCHF is testing major support at 0.7716 (Fibonacci retracement, horizontal overlap support, bullish price action, bullish divergence) and a strong bounce could occur at this level to push prices all the way up to major resistance at 0.7851 (Fibonacci extension, horizontal swing high resistance). Stochastic (55,5,3) is seeing major support above 6.4% where a...
CADCHF has broken major support-turned-resistance level at 0.7809 (Fibonacci retracement, horizontal overlap resistance) and remains below our Ichimoku cloud signalling that there is bearish momentum. Our next resistance is at 0.7830 which is above our 61.8% Fibonacci retracement and also at a swing high resistance. Price could potentially drop all the way to...
Intro: CADCHF has made an exit of its channel signalling a change in momentum, and also providing a great opportunity to buy. Buy above 0.7400. Stop loss at 0.7360. Take profit at 0.7493. Reason for the trading strategy (technically): Price has made a bullish exit of our long term descending channel signalling that we’re likely to see a change in momentum from...
CADCHF has made a bullish exit of its long term descending channel, this is a huge sign for a potential bullish reversal. Our 1st support is at our breakout level of 0.7386 and we can see two major resistance levels at 0.7439 (Fibonacci retracement, horizontal overlap resistance) and 0.7469 (Fibonacci retracement, horizontal overlap resistance). RSI (55) has also...
This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits. Please comment below and Like if you agree with my analysis.
CAD/CHF 4H Chart: Channel Down The Canadian Dollar is trading against the Swiss Franc in a three week long descending channel that represents a rebound of the currency exchange rate from the upper edge of a dominant long-term ascending channel. Over the previous week the Loonie depreciated against the Franc by 1.16%. A rebound from the monthly R1 at 0.7786...
From the previous two trading session, the Swiss Franc descended strongly against its major Forex currencies. An acquaintance of mine has told me that although no news of it was there, it seems that the SNB (Swiss National Bank) has intervened with the Swiss. When I started stock and forex trading, I've already heard rumors and sayings that the Swiss Franc is a...
Brief overview: Looking at the CADCHF over multiple timeframes, I believe there is an opportunity to short this pair. After the recent rally on the 4H chart, we can see price was met with a strong resistance and dropped back down to a recent support level. We have downward momentum on multiple timeframes and I'm waiting for confirmation before activating this...
CADCHF 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...
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CHF seems to be strong across other pairs. I am short different pairs against CHF for some time now, but found this to be a nice entry point for new or already short positioned traders. It's not a pip harvest, but a comfortable setup for a potential small profit.
As a follow up on my previous 3TAP short on CADCHF (see link below). I have sold half my position and holding the rest down to the resistance around 0.02003. Be ready Monday, because if it does not break 200MA which it's currently AT, it might reverse. For newcomers, wait for it to break 200MA and add a small position. It's a bit late to get in this for a bigger...