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Cadchfsignal

CADCHF | Perspective for the new weekCommodity markets struggle to rebound, but the Canadian dollar remained under strong pressure even at the latter part of last week trading session. The appearance of a Double Top structure ( a strong reversal pattern) on the chart confirms that the price has found a peak @ Fr0.75000 and has since the beginning of May 2021 continue to find lower lows which culminated in the Breakdown of Key level @ Fr0.74000 - a level that has kept price "supported" for 42days. Tendency: Downtrend (Bearish) Structure: Breakdown | Supply & Demand | Reversal pattern (Double Top) Observation: i. i. Double Top: Confirmation of an extremely bearish technical reversal pattern that formed after the price reached a peak two consecutive times with a moderate decline between the two highs insinuates a risk of further decline in the coming week(s). ii. A successful Breakdown of the Neckline area (Key level) on the 9th of June 2021 was followed by multiple rejections of the same zone. iii. Multiple rejections of the Fr0.74000 area projects a new supply niche for future selling opportunity @ Fr0.7400/0.74400; this is evident in the activities that occurred in the latter part of last week trading session. iv. Shooting star: the price tried to rise significantly during the last two days (17th/18th June 2021), but then the sellers took over and pushed the price back down toward the open of the previous day to close below the neckline. v. In this regard, it appears to be appropriate that we look for a trading opportunity below the neckline in the coming week... Trade consciously! 😊 Trading plan: SELL confirmation with a minimum potential profit of 220 pips. Risk/Reward : 1:8 Potential Duration: 6 to 12days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
CADCHF Strong SHORT 📉What I see in this pair is quite nice and as clear as possible, as you see in the chart, Blue area you see just above the price is strong supply which price reacted to it perfectly, you can see they pushed price lower and lower after reaching to its strong supply, Price were moving in strong uptrend channel , which 2 weeks ago that channel were broken to down, now we reached again broken point of channel , we consider it as a strong resistance. if price break this resistance we see it higher and higher, but for now we have all confirmations for sell as long as price is bellow 0.7380 , we have strong support just bellow price we use them as our 1st and 2nd TP . Any more info Comment or DM as always more than welcome to answer your questions 1:4 R:R LOVELY 👌🏻✅ GOODLUCK Everyone!!! FxShzd ✅📈📉✅
Short
by FxShzd
3
CAD/CHF Multi-Timeframe analysisHi Traders CAD/CHF Multi-Timeframe analysis H1 CHART ( BULLISH ) A very high probability, entry signal to go LONG was given at 0.71104 after the market found support at 0.70829 . Only the downward break of 0.70829 would cancel the bullish scenario. Support & Resistances 0.70789 0.71094 0.70455 0.71331 0.70165 0.71621 H4 CHART ( BULLISH ) A very high probability, entry signal to go LONG was given at 0.71104 after the market found support at 0.70829 . Only the downward break of 0.70829 would cancel the bullish scenario. Support & Resistances 0.70789 0.71094 0.70455 0.71331 0.70293 0.71621 DAILY CHART ( BULLISH ) A medium probability, entry signal to go LONG was given at 0.70611 after the market broke the resistance level at 0.70611 . Support & Resistances 0.70224 0.70550 0.69035 0.71444 0.68610 0.72959 WEEKLY CHART ( BULLISH ) Waiting for a retracement lower towards the 0.70070 support level, in order to reinstate LONG positions. Next important support is the 0.68165 level. Support & Resistances 0.70070 0.71194 0.68165 0.72008 0.67449 0.72512
Long
by Avramis
2