Cadchflong
Proposed long CADCHF This pair made an all time low at 0.660 in March 2020 and then started a slow grind to the top as the monthly chart shows.
The price action on the daily chart is contained within a channel. The potential to the upside is huge while a run to the lows is possible too.
Price is at the bottom of this channel and an attractive place to test PA with a small trade size with a 80-90 pips stop.
The round number 0.700 is about 35 pips away and a convincing break above that will provide a more secure entry or an opportunity to add positions.
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CADCHF - SWING - 29. JUNE. 2020Welcome to our weekly trade setup ( CADCHF )!
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1 HOUR
Very bullish price action.
4 HOUR
Price closure above main sr level, expecting a push now.
DAILY
Overall bearish market structure about to turn.
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FOREX SWING
BUY CADCHF
ENTRY LEVEL @ 0.69560
SL @ 0.69210
TP @ 0.70060
Max Risk. 0.5% - 1%!
(Remember to add a few pips to all levels - different Brokers!)
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Have a great week everyone!
ALAN
Daily Update--CAD/CHF-- Big Chat View Forecasting Disclaimer:
the content on this analysis is subject to change at any time without notice and is provided for the sole purpose of assisting traders to make independent investment decisions. this is not signal. it's my opinion. trade your own risk. and Must Follow Money management.
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Thank you for your support!
CADCHF long trade ideaPlan: resistance level breakout --> wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together.
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Thank you for your support ;)
GWBFX
CADCHF H1 LONG PRICE ACTION FORECAST In the real of D1, the price structure has been trading with a rising channel, recently touching the support of the channel heading toward to upper levels.
Now, in H1, the price has found support above the Fibonacci 61.8, together with a support level. If price correction has arrived to an end, this will allow a long entry for the pair to capture the uptrend momentum that would follow.
If price continues its uptrend bias, a buy-stop entry could be placed, with the following features:
The order:
Type: buy-stop.
S/L: 25 pips - R:R | 1:2
T/P: previous high.
CADCHF TRADE FORECASTCADCHF is trading within the range indicated by the dotted line, which delineates swing points on the Daily and Weekly timeframe. After an aggressive sell-off this week, it has retraced to the 0.69200 level and 0.705 weekly fibonacci retracement.
I think it may rise up next week to pick up liquidity, before coming back down to take out the sell stops resting below 0.69200 and beyond!