CADCHF H4 LONG PRICE ACTION FORECAST With the pair in a clear uptrend in three consecutive trading sessions, following the ascending trendline as support, I could expect a retest of the level to continue is bullishness towards the next resistance level. It allows the setup of a long entry as a limit.
The order:
Type: sell-limit
S/L: 23 pips - R:R | 1:3 -
T/P: as shown
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Cadchflong
CADCHF LONGCadchf has been serving me pips these last weeks :)
This hidden bullish setup forming on the 4H as well as a hourly divergence, presents a good entry for a long position. This following a significant pullback after we experienced a breakout of a 4H trendline upwards after the CAD rate release last week.
CAD/CHF could go higher now💡Hello traders,
Hope you are having fantastic summer and also are finding time for trading as well :)
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CAD/CHF has been pushed down recently. Now price has approached resistance line and there is possibility of price going up again. We will wait for price action to confirm rejection before entering any long positions.
Let us know what you think about this idea.
Trade safe !
CAD/CHF: Waiting for the Next PhaseI been mostly busy lately, but that didn't stop me from wanting to do an entry for the CADCHF pair before market close. Right now, the bearish action is making me anxious and some people may think this could be sign of a sell off, but I think it is actually due to market hours. Looking at the continuation pattern, I expect the upcoming wedges to be more towards signs of bullishness. I also think the next phase is likely positive. That being said, everything I say is on an opinion based basis. Please pursue at your own risk. Do your own due diligence and this is not meant to be taken as actionable financial advice.
CADCHF Potential rebound to 0.712 but might fail to test 0.72OANDA:CADCHF
CADCHF is in its lower bound of Bollinger band in the daily chart, so rebound potentially happening in a short term . Resistance 0.712 seems achievable but it will hard to breakthrough resistance 0.72xx unless there is significant financial news or fundamental progress.
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Disclaimer:
This information is for educational purposes and is not an investment recommendation nor to be representative of professional expertise. This analysis used herein is for illustration purposes only. This personal opinion should not be considered specific investment advice. I am not responsible for any trades, and individuals are solely responsible for any live trades placed in their own personal accounts.