Cadchflong
CADCHF - Up-trend broken to the downside | 1:3 RR Short📢CADCHF 4H - Technical Breakdown
📈Price action has successfully broken through the clear up-trend and has since re-tested the prior support.
📈A short opportunity from the current market price presents a 1:3 RR trade aiming to bank 150 pips down to the highlighted support at 0.67300.
CADCHF. Price will return to a key level.Hi guys and ladies.
The price has broken a key level,
but this is temporary,
because it is already returning to its target at 0.69000.
Good luck to you.
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This idea does not provide the financial advice.
CAD CHF will continue in line / short & longCAD CHF will continue short downtrend at first movement, then it will rais upward and goes uptrend.
So if you decide to take short position at the beginning of movement, just start selling with putting STOP LOSS at the top of the resistant line,
But if you prefer a long position use buying after it moved to the bottom of the movement at the near place of support line. Dont forget to use stop loss.
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CADCHF LONGLooking at the daily TF we can see that we started to see some Bullish momentum and since the price have been consolidation fo a while after a long run to the down side this indicates that traders have started to take profits. Now, looking at the 4 H TF we can see that the price have retraced to the 0.382 Fibonacci level plus it's at a strong resistance area. so our plan is either: 1_ wait for a breakout of the resistance 0.69400 and once the price retraces the resistance will become support we will go long. OR 2_ if the price got rejected by 0.69400 we will wait for it to reach the support level of 0.67700 then we will go long.
Traders!! if you like my ideas and do take the same trade like i do, please write it in comment so we can manage the trade together.
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