CHFCAD trade ideas
Broadening Bottoms because it's a reversal chart pattern, Price can fly like crazy after doing its partial decline
but still, this is worthful trade bcz R:R is so Lucrative :)
Don't miss the great buy opportunity in CADCHFTrading suggestion:
". There is a possibility of temporary retracement to suggested support line (0.6920).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. CADCHF is in a uptrend and the continuation of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 71.
Take Profits:
TP1= @ 0.6938
TP2= @ 0.6949
TP3= @ 0.6964
TP4= @ 0.6988
TP5= @ 0.7007
SL= Break below S3
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Don't miss the great buy opportunity in CADCHFTrading suggestion:
". There is a possibility of temporary retracement to suggested support line (0.6925).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. CADCHF is in a uptrend and the continuation of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 55.
Take Profits:
TP1= @ 0.6945
TP2= @ 0.6962
TP3= @ 0.6989
TP4= @ 0.7001
TP5= @ 0.7032
SL= Break below S3
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Bear Flag - SellPrice 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 successfully managing the trade after entering the trade.
If you look at my previous trades, 90% are impulsive moves covering about average of 80-100 pips.
So you need to make sure you enter the trade at the right time and manage the trade to get the maximum amount of pips from it.
Comment below in case if you need to know how to do it if interested.
Flat flagLooking 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 pips.
So you need to make sure you enter the trade at the right time and manage the trade to get to squeeze maximum amount of pips from it.
Comment below in case if you need to know how to do it if interested.
Ascending channel - Sell 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 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 pips.
So you need to make sure you enter the trade at the right time and manage the trade to get to squeeze maximum amount of pips from it.
Comment below in case if you need to know how to do it.
Current situation on CADCHF.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.
Rising wedge - SellPrice has formed a rising wedge pattern suggestive of a SELL trend
Target RR = 1:1.4
Don't miss the great buy opportunity in CADCHFTrading 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.
. The RSI is at 70.
Take Profits:
TP1= @ 0.6935
TP2= @ 0.6980
TP3= @ 0.7025
TP4= @ 0.7060
TP5= @ 0.7140
SL= Break below S2
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Don't miss the great Sell opportunity in CADCHFTrading 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 resistance.
. The RSI is at 37.
Take Profits:
TP1= @ 0.6846
TP2= @ 0.6810
TP3= @ 0.6770
TP4= @ 0.6740
TP5= @ 0.6610
SL= Break below R2
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potential harmonic butterfly pattern is forming in 4 hourprice is moving towards a strong demand zone,that is also a potential reversal zone in harmonic pattern.
Don't miss the great buy opportunity in CADCHF Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (0.6960). 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.
. The RSI is at 71.
Take Profits:
TP1= @ 0.7030
TP2= @ 0.7060
TP3= @ 0.7130
TP4= @ 0.7190
TP5= @ 0.7230
SL= Break below S2
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Don't miss the great buy opportunity in CADCHF Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (0.69315). 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 below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 59.
Take Profits:
TP1= @ 0.69857
TP2= @ 0.70340
TP3= @ 0.70595
TP4= @ 0.71330
TP5= @ 0.71884
SL= Break below S3
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CADCHF Short Trade PlanHello Traders, here is my analysis for CADCHF. Let me know if guys have any question in comments. If you like my analysis please hit like. Thanks.
Don't miss the great sell opportunity in CADCHFTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (0.7027). 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 resistance.
. The RSI is at 50.
Take Profits:
TP1= @ 0.6975
TP2= @ 0.6957
TP3= @ 0.6937
TP4= @ 0.6905
TP5= @ 0.6875
SL: Break Above R2
❤️ If you find this helpful and want more FREE forecasts in TradingView
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Trade well, ❤️
ForecastCity English Support Team ❤️
