Price is clearly forming a bear flag pattern.
Would be nice if it could also form an ascending channel inside the bigger bear flag which will give more confirmation that the price is going to impulse down.
Please Note:
Just knowing the direction of the next move will not help being profitable.
There is a lot more to it with regards to the entry technique and...
Looking for a flat flag formation before the drop.
Please Note:
Just knowing the direction of the next move will not help being profitable in the long run.
There is a lot more to it with regards to the entry technique and trade management after entering the trade.
If you look at my previous trades, 90% are impulsive moves covering about average of 80-100...
Price pattern is not fully formed yet.
Expecting it to form an ascending channel / rising wedge pattern before the major drop.
Will ideally wait for it to develop little more before looking to enter short on it.
Please Note:
Just knowing the direction of the next move will not help being profitable in the long run.
There is a lot more to it with regards to the...
Currently the CADCHF is testing the previous low and also a very strong trend-line.
Chance is that, it will at least test its previous high or would would show a bull run.
It is a good time to long, likely on the 4 Hr time-frame.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (0.6885). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. CADCHF is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
....
Trading suggestion:
. There is a possibility of temporary retracement to suggested resistance line (0.6888). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. CADCHF is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic...
