CADCHF Trading Plan - 20/Aug/2024Hello Traders,
Hope you all are doing good!!
I expect CADCHF to go up from the zone.
The Up move is expected to be an Impulse, however if it turns out to be a correction another push down can come.
Plan to Trade:
Wait for market to give Buy setup at zone.
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CADCHF trade ideas
CAD/CHF: Bearish Breakout Signals Potential Downsideโก Bearish breakout from Rectangle pattern
โก Next targets: Support levels at 0.6152 and 0.6098
CAD/CHF has broken down from a rectangle formation, indicating a bearish trend. Keep an eye on the support levels at 0.6152 and 0.6098 for potential price reactions. This setup suggests further downside potential.
CADCHF: Bearish Outlook Explained ๐จ๐ฆ๐จ๐ญ
CADCHF is trading within a wide horizontal range on a 4H time frame.
After a test of a resistance of the range, the price formed a double top on that.
Bearish breakout of the neckline of the pattern is a strong intraday bearish signal.
The pair may keep falling now at least to 0.62621
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CAD/CHF BEST PLACE TO BUY FROM|LONG
Hello, Friends!
We are going long on the CAD/CHF with the target of 0.628 level, because the pair is oversold and will soon hit the support line below. We deduced the oversold condition from the price being near to the lower BB band. However, we should use low risk here because the 1W TF is red and gives us a counter-signal.
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CADCHF: Consolidation & IndecisionThe current situation on CADCHF is quite unusual as the price is consolidating within a narrow horizontal trading range. The resistance levels are between 0.6280 and 0.6294, while the support levels are between 0.6263 and 0.6249.
To predict a bearish trend continuation, we should wait for a bearish breakout below the support range, with a 4-hour candle closing below it to confirm the breakout. This could lead to a further decline towards the 0.619 level.
On the other hand, to anticipate a bullish move, we need a 4-hour candle closing above the resistance range. This could signal a bullish continuation towards 0.634.
It is recommended to wait for a breakout and then follow the market trend accordingly.
CADCHF Will Go Down From Resistance! Short!
Please, check our technical outlook for CADCHF.
Time Frame: 12h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 0.626.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 0.612 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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CADCHF ShortPAIR:
๐4hr Short Signal
CADCHF has been breaking into new lows on our Weekly, Daily and now our 4hr entry time frame. and surfing below our 50/200 EMAs. Price has now had a pullback followed by a valid engulfing pattern. That makes this a good example of the 50ema Pullback Strategy.
๐ฏ ENTRY - 0.62753
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TAKE PROFIT - 0.62276
๐ด STOP LOSS - 0.62912
CadChf could see some downside if Chf strengthensHello fellow traders , my regular and new friends!
Welcome and thanks for dropping by my post.
Do check out my recorded video (in trading ideas) for the week to have more explanation in place.
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Disclaimers:
The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes.
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CAD/CHF 4hrs ( sell Trade Target Range 150 PIP ) Pair Name : CAD/CHF
Time Frame : 4hrs Chart / Close
Scale Type : Large Scale
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Key Technical / Direction ( Short )
Type : Mid Term Swing
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Bearish Break
0.62800 Area
Reasons
- Major Turn level
- Visible Range Lvn
- inner Pattern Break
- Week / Day low
- Fibo Golden
- Fixed Poc
Bullish Reversal
0.61000 Area
Reasons
- Major Turn level
- Visible range hvn
- pattern Target
- Fibo Golden
- Choch Zone
CADCHF: Important Breakout ๐จ๐ฆ๐จ๐ญ
CADCHF broke and closed below a key intraday/daily support.
The broken structure and a trend line will compose a resistance cluster now.
Probabilities will be high that the price will drop lower.
Next supports: 0.6248 / 0.621
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CADCHF Strong buy signalThe CADCHF pair offered us an excellent sell signal last time we looked into it (July 02, see chart below) as trading within a Channel Down pattern, it was rejected on its 1D MA50 (blue trend-line) and hit our 0.63100 Target:
The Channel Down priced its new Lower Low, even broke momentarily below its bottom aggressively, and now seems to have recovered. The recent pull-back offers a good opportunity to enter this confirmed uptrend, which is technically the new Bullish Leg of the Channel Down.
Our Target is 0.65000, firmly below the 0.786 Fibonacci retracement level of the previous Lower High of the Channel, which is where both Lower Highs so far have been priced.
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