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CADCHF trade ideas

CAD/CHF: Bearish Harmonic Pattern at Key Resistance LevelThe CAD/CHF currency pair is presenting a compelling shorting opportunity based on a confluence of technical factors. A Bearish Harmonic Pattern is currently unfolding, with Point D, also known as the Potential Reversal Zone (PRZ), situated at a critical resistance level. This strengthens the bearish case as price tends to find rejection at these confluence zones. Harmonic Pattern and Resistance: The specific Bearish Harmonic Pattern in development is not explicitly mentioned, but the key takeaway is the presence of Point D at a resistance area. This area has previously acted as a barrier to price advancement, and a retest often leads to a reversal. The confluence of the pattern completion and resistance adds significant weight to the bearish bias. Bearish RSI Divergence: Further bolstering the bearish case is the presence of Bearish RSI Divergence on both the 1-hour and 4-hour timeframes. RSI divergence occurs when price makes a new high (or low) but the RSI indicator fails to confirm the move, printing a lower high (or higher low). This divergence suggests a weakening bullish momentum, potentially leading to a price reversal. Trendline Support Turned Resistance: Adding another layer of confirmation is the fact that Point D coincides with the 4-hour trendline. This trendline, which was previously acting as support, has likely been broken and is now functioning as resistance. This reinforces the notion of a bearish shift in momentum. Entry, Stop Loss, and Take Profit Levels: Based on the confluence of technical indicators, a short trade is recommended with the following parameters: Entry: 0.66710 Stop Loss: 0.67025 (placed slightly above the broken trendline resistance) Take Profit Levels: TP-1: 0.66395 TP-2: 0.66080 TP-3: 0.65765 (These profit targets are strategically placed at key technical levels or at a predetermined risk/reward ratio) Risk Management: It's crucial to employ proper risk management techniques for this trade. The stop loss should be placed above the broken trendline resistance to account for potential retracements. The take profit levels offer a favorable risk-reward ratio, allowing for potential profit even with a conservative approach. Conclusion: The CAD/CHF presents a strong shorting opportunity based on a Bearish Harmonic Pattern, Bearish RSI Divergence, and a broken trendline acting as resistance. The confluence of these factors suggests a high probability of a bearish reversal. However, as with all trading strategies, proper risk management is essential.
Short
by MZ_FX_
CADCHF - 4hrs ( Buy Trade Target Range 140 PIP ) ☑️Pair Name : CAD/CHF 🗨Time Frame : 4hrs Chart / Close ➕Scale Type : Large Scale ------ 🗒 spreading knowledge among us and to clarify the most important points of entry, exit and entry with more than 5 reasons We seek to spread understanding rather than make money ✔️ Key Technical / Direction ( Long ) Type : Mid Term Swing ——————————— ⚙️Bullish Break 0.66900 Area Reasons - Major Turn level - Channel Break / Middle Band - Traingle Break - Visible Range Hvn Area - Quarter High Area - Day / Week High Break - Fibo Golden ⚙️Bearish Reversal 0.68300 Area Reasons - Major Turn level / D - Pattern Target - Major Channel Upper Band - Fibo Golden Zone 1.618 % - Choch Zone - 2 Quarter High Area
Long
by GentleGoldenEngine
Potential bearish drop?CAD/CHF is rising towards the pivot which has been identified as a pullback resistance and could potentially fall to the 1st support. Pivot: 0.66890 1st Support: 0.66482 1st Resistance: 0.67215 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
CADCHF at an interesting spot. Watch out for CAD data this week!#CADCHF EASYMARKETS:CADCHF Disclaimer: easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
by easyMarkets
Could CAD/CHF drop from here?Price is rising towards a resistance level which is slightly above the 161.8% Fibonacci extension and could potentially drop from this level to our take profit. Entry: 0.66883 Why we like it: There is a pullback resistance level which is slightly above the 161.8% Fibonacci extension. Stop loss: 0.67211 Why we like it: There is a pullback resistance level which aligns with the 127.2% Fibonacci extension. Take profit: 0.66482 Why we like it: There is an overlap support level. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
CADCHF: The Harmonic Pattern Can Push CADCHF Up AgainCADCHF: The Harmonic Pattern Can Push CADCHF Up Again Today CADCHF completed a small harmonic pattern on the 60 min chart. The price stopped and reacted well. This is raising the chances for a bullish wave in the coming days. We have to consider that 0.6600 is also a strong psychological area and it adds more value to our analysis. You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Long
by KlejdiCuni
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