CADCHF H1 SHORT PRICE ACTION FORECAST After the rejection from the key level forming a tweezer top, the bearish bias in the price action could be forecasted. Expecting the bearishness in the price action to continue and trigger the short order, following close due to the next support zone blue-dotted line, as the price can find some rejection at the level
The order:
Type: buy-limit
S/L: 25 pips - R:R | 1:2 -
T/P: aiming at the next support level
Cadchfshort
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!
CADCHF H4 SHORT PRICE ACTION FORECAST -UPDATE-Price action kept dropping without pullback for no retest of entry-level for the first order. However, it is showing bearish momentum, and a second sell-limit entry is placed.
Expecting a correction to trigger order if it retests the critical zone
The price is showing some diminished seller pressure.
Hlf position is closed and S/L moved to BE.
CADCHF H4 SHORT PRICE ACTION FORECASTWith the price action about to form the right shoulder with the pullback, pair could continue its bearishness,
In the downtrend momentum continuos, a second entry after a pullback from trendline (purple) can also be caught.
Price in a pullback to the resistance level.
The order:
#1
Type: sell-limit.
S/L: 44 pips - R:R | 1:2 -
T/P: aiming to fibonacci level