CADCHF longLooks like momentum has stopped, on a double bottom and a deep crab harmonic formation
#tradingwerks
Cadchflong
CADCHF Approaching Support, Prepare For A BounceCADCHF is approaching its support at 0.7544 (61.8% & 100%Fibonacci extension, 50% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 0.7592 (61.8% Fibonacci retracement).
Stochastic (55, 5, 3) is approaching its support at 4% where a corresponding bounce could occur.
CADCHF Approaching Support, Prepare For A BounceBuy above 0.7544
Stop loss at 0.7521.
Take profit at 0.7592.
Reason for the trading strategy (technically):
CADCHF is approaching its support at 0.7544 (61.8% & 100%Fibonacci extension, 50% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 0.7592 (61.8% Fibonacci retracement).
Stochastic (55, 5, 3) is approaching its support at 4% where a corresponding bounce could occur.
Double Bottom in CADCHF Possible BUYDouble Bottom in CADCHF Possible BUY, if price closes above Neckline. Parabolic SAR signaling short upmove and 10 EMA close to cut 40 SMA in upward direction.
CADCHF Approaching Support, Potential For A Bounce!CADCHF is approaching its support at 0.7533 (61.8% Fibonacci extension x2, 50% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 0.7583 (50% Fibonacci retracement, horizontal overlap resistance).
Stochastic (55, 5, 3) is approaching its support at 6% where a corresponding bounce could occur.
CADCHF Approaching Support, Prepare For A Bounce!Buy above 0.7533.
Stop loss at 0.7500.
Take profit at 0.7583.
Reason for the trading strategy (technically):
CADCHF is approaching its support at 0.7533 (61.8% Fibonacci extension x2, 50% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 0.7583 (50% Fibonacci retracement, horizontal overlap resistance).
Stochastic (55, 5, 3) is approaching its support at 6% where a corresponding bounce could occur.
CADCHF Approaching Support, Potential For A Bounce!CADCHF is approaching its support at 0.7532 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 0.7639 (76.4% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) is approaching its support at 4% where a corresponding bounce could occur.
CADCHF Approaching Support, Prepare For A Bounce!Buy above 0.7532.
Stop loss at 0.7494.
Take profit at 0.7639.
Reason for the trading strategy (technically):
CADCHF is approaching its support at 0.7532 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 0.7639 (76.4% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) is approaching its support at 4% where a corresponding bounce could occur.
CADCHF-Get Back in LongI've been in and out of this as its heading North. Nice Carry
Will try to jumo back in on a retrace.
CADCHF approaching resistance, potential drop! CADCHF is approaching our first resistance at 0.7620 (horizontal swing high resistance, 78.6% Fibonacci retracement, 61.8% Fibonacci extension) where a strong reaction might occur below this level pushing price down to our major support at 0.7565 (horizontal swing low support, 76.4% Fibonacci retracement, 61.8% Fibonacci extension).
Stochastic (34,5,3) is also approaching resistance and a reaction off this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
CADCHF Approaching Support, Potential Bounce!CADCHF is approaching its support at 0.7532 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing low support) where it could potentially bounce off from to its resistance at 0.7599 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance).
Stochastic (55, 5, 3) bounced off its support at 1.5% where a corresponding rise could occur.
CADCHF approaching resistance, potential drop! CADCHF is approaching our first resistance at 0.7632 (horizontal swing high resistance, 100% fibonacci extension, 50% fibonacci retracement) where a strong reaction might occur below this level, pushing price down to our major support at 0.7534 (horizontal swing low support, 50% fibonacci retracement, 100% fibonacci extension). A breakout below our intermediate support at 0.7588 (horizontal swing low support, 23.6% fibonacci retracement) might provide the bearish accleration to our major support target.
Stochastic (89,5,3) is also approaching our resistance and a reation below this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
CAD/CHF Trade IdeaTechnical indicators for the pair are turning bullish.
Price action has edged above major EMAs after bullish divergence on Stochs.
The pair is currently trading muted after previous session's spike with stiff resistance at 0.7615 (nearly converged 200-DMA and cloud).
Breakout there could see further bullishness. Scope then for test of 61.8% Fib at 0.7686.
Rejection at 200-DMA could see retrace till 21-EMA at 0.7565. Violation there could see further weakness.
Good to go long on breakout at 200-DMA, SL: 0.7565, TP: 0.7630/ 0.7685
CADCHF approaching resistance, potential drop! CADCHF is approaching our first resistance at 0.7627 (horizontal swing high resistance, 50%, 78.6% Fibonacci retracement, 100% Fibonacci extension) and a strong reaction might occur below this level, pushing price down to our major support at 0.7526 (horizontal swing low support, 50% Fibonacci retracement).
Stochastic (55,5,3) is also approaching resistance where we might see a corresponding drop in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
CAD/CHF AnalysisThe 2- hour chart of CAD/CHF is currently forming a head and shoulder pattern.
The right shoulder will also have an elongated formation.
Hence we expect the movement to be sideways until the neckline is broken and once broken it can attract strong selling pressure.
CADCHF SHORTon friday me and the team managed to trade the beautiul bounce at the bottom of the descending channel now is the time to start looking for shorts to travel with the intraday bear trend we have going on
CADCHF approaching support, potential bounce!Price is approaching our first support at 0.7530 (horizontal swing low support, 50% Fibonacci retracement, 61.8% Fibonacci extension) and a strong bounce might occur below this level pushing price up to our major resistance at 0.7587 (horizontal swing high resistance, 61.8% Fibonacci extension, 61.8% Fibonacci retracement).
Stochastic (89,5,3) is also approaching our support and a bounce off this level might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
CADCHF Testing Support, Potential For A Bounce!CADCHF is testing its support at 0.7530 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing low support) where price could rise to its resistance at 0.7588 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) bounced off its intermediate support at 8.5% where a corresponding rise could occur.
CADCHF Testing Support, Prepare For A Bounce!Buy above 0.7530.
Stop loss at 0.7490.
Take profit at 0.7588.
Reason for the trading strategy (technically):
CADCHF is testing its support at 0.7530 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing low support) where we expect price to rise to its resistance at 0.7588 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) bounced off its intermediate support at 8.5% where a corresponding rise is expected.
CADCHF approaching support, potential bounce! CADCHF is approaching our first support at 0.7533 (horizontal swing low support, 23.6% Fibonacci retracement) and broke out of our short term descending resistance line where a strong bounce might occur above this level pushing price up to our major resistance at 0.7648 (horizontal swing high resistance, 100% Fibonacci extension).
RSI (55) is also seeing a bullish exit and we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
