Cadchfshort
CADCHF SELLTraders! 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.
CADCHF SELL @0.75394
SL @0.76101
TP @0.74953
TP @0.74501
TP @0.74102
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**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.
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AkilajFX
Cad Chf Triple Top UpdateJust To Give Everyone a good idea of how rewarding a triple top on the daily time frame is , just look at the green box from the past....
Look at the last big triple top (Even though there was consolidation in this triple top that made the breakout more powerful) , just look at the black trend lines to see how far down the trade moved after that!
This trade has extreme probability of dropping with a very high reward!!!! Please do not miss it!
Cad Chf Sell The Daily Triple Top!!!!Cad Chf Has A Daily Triple Top. If you use a Fib Retracement tool you can see that literally every level is acting as support.
This is a triple top trend reversal pattern on the daily chart. This means that price will move down very far and then the pullbacks can be up to 50 pips...
So we have the high , we need a low, then we need a higher low, and a lower low. If you trade the daily chart , this will all happen on hour 4!
Use a small lot size, you can open 3 trades with tp1 , tp2, and tp3! After tp1 hits , move stop loss to entry on the other 2 trades for a risk free trade!
P.S. Of all the trades I see on the charts, this pattern is the most rewarding and highest probability of being correct.
CADCHF Bearish PennantOn the Weekly chart, the CAD has been progressively falling against the CHF from around 11 SEP 2017 in a choppy but progressive manner. The bearish resistance trend line has been a strong point throughout this time and hasn't been broken in a strong manner. Moving towards the daily chart, price has recently rejected the swing high of the resistance trendline and now I am of the opinion that CADCHF is now ready for a bearish push.
My targets are around 40 - 80 pips fall however since we are in the direction of the overall trend the fall may be much stronger and longer.