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Cadchfshort

CADCHF SHORT SETUP (Supply & Demand, Head & Shoulders)You can clearly see a head & shoulders pattern on the h4 or daily timeframe. I am now waiting for a double top on the h1 or a fakout on h4. Wait for price action. Do not enter the trade immediately! Other confirmations to sell: Price broke supply -> now demand lower low created -> waiting now for lower high I set TP1 & TP2 based on fibonacci. I will risk 1% for this trade. After the trade is 40 pips in profit, i will move sl to entry. I will close 70% of my trade on tp1 & move my sl lower to a point where i think the trade will be invalid. Let me know your view in the comments. Join our community. Link in bio.
Short
by stibo
CADCHF - Long or Short OpportunityLooking into the weekly chart we can see that there is a strong overall down trend for this pair. As we come into our lower time frames the Daily/ 4hr we have a smaller bullish trend taking place inside of the overall trend. Do too fundamentals which took places yesterday we had a strong down movement in this pair which has bought us back too the bullish trend line acting as a support for this pairs current movements. This also aligns with a dynamic area of supply and demand. So we could be looking at a bounce off of the trend line and a bullish movement up toward the overall bearish trend line or a bearish movement in which the lower time frame trend line is broken and then looking for a retest to confirm the bearish movement in which we can begin to short looking toward the next area of demand.
by OnlyAnalysis