CAD/CHFShort
CADCHF Bearish Continuation
Updated
Hi Traders,
We are looking for a selling opportunity for this Pair for some reasons:
1. Rising Wedge - based on the previous move of CADCHF last Oct.- Nov. 2022
2. The edge of the Schiff Pitchfork is currently being tested- if the price is rejected by this, this will be a huge downside for this pair
3. Currently with the strong Fibonacci Resistance Level
4. It formed a Bearish Divergence on the previous swing high.
I recommend entering the trade once the Rising Wedge is broken and finding a short setup for it.
Be Safe Traders,
Retained.
We are looking for a selling opportunity for this Pair for some reasons:
1. Rising Wedge - based on the previous move of CADCHF last Oct.- Nov. 2022
2. The edge of the Schiff Pitchfork is currently being tested- if the price is rejected by this, this will be a huge downside for this pair
3. Currently with the strong Fibonacci Resistance Level
4. It formed a Bearish Divergence on the previous swing high.
I recommend entering the trade once the Rising Wedge is broken and finding a short setup for it.
Be Safe Traders,
Retained.
Trade active
Rising Wedge is now broken! we can see a retest of the trendline/rising wedge and expect more downside to this pair. Goodluck!Note
The edge of the Schiff Pitchfork(blue line) is broken too we can wait for another drop because of this confirmation.Note
As you can see the CADCHF attracted into the median line of the Schiff Pitchfork whereas you can TP all the trades here. Nice profit for those who ride with me. Grats!Trade closed: target reached
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