WAIT FOR A RETRACEMENTWith a Monthly and Weekly bearish trend, the ideal is to go bearish on the lower time frame. And on the 4H there is a supply area the coincides with the 78.6 Fib. With the 3 time frame in sync, if price can come to that area then for me it is a good short position
This is not a financial advice, and make sure to calculate your risk before taking any trade
Cadchfshort
CADCHF top-down analysisHello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
CAD/CHF Bearish BiasHi,
The price was in a downtrend until it started ranging for roughly about 12 weeks, it eventually broke the support of the range with a strong Bearish move but found support again at the 2020 low of around 0.6600.
Price retraced back to the broken support of the range which should now be quite a strong resistance and made a nice rejection doji on the Daily.
On the 4HR price is forming a double top, price action on the 4HR looks to be respecting the resistance and bears are trying to push lower from this level.
I will wait to see if the 4HR will close below the neckline and then sell on the retrace with TP2 at the weekly support.
Should the price go up and close above the right top or drop to the 0.6672 (breakeven point) level without a retrace the setup will be considered invalid.
This is not a signal and any feedback would be appreciated.
Thanks
CADCHF - Short from bearish order block ✅Hello traders!
‼️ This is my perspective on CADCHF .
Here we are in a bearish market structure from daily perspective, so I am looking for shorts. I have 2 points of interest here, if price rejects from bearish order block at 0.68000 or from bearish order block at 0.69000.
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Box formation bearish medium term to 0.6472 Box formation formed on CADCHF
Price broke out and also formed 3 Black Crows.
This confirmed downside to come.
200>21>7 - Bearish
RSI<50
Medium Target -> 0.64720
SMC
Sell side liquidity formed forming an Order Block.
This is where the Smart Money goes down and stops out all the shorters. They then grab their orders and buys which causes a push up.
This means, we can expect short term upside to target 0.6804
CADCHF: Bears in ControlPrice tapped the lowest point in history and started to push away from the zone creating a double-bottom formation.
Double bottoms mean one thing, retail stops ESPECIALLY in an area of such high importance.
I would like to see a sweep of seller liquidity around the order block before we return to sweep the herd of buyers.
Again, no entries until I am certain.
It is highly likely I won't trade today.
CADCHF - SHORT setupBased on the overall analysis, CADCHF shows a strong bearish momentum in the market; on the daily time frame, it seems that CAD is pushing to break MA 50, and on the 4-hour, we have a recent closure of a bearish engulfing crossing all the MAs. I believe this setup has a strong potential to drop to the first area of sensitivity, which is the previous 4-hour bottom; if broken, we can even move further down to re-test the previous daily bottom.
CADCHF SELLCADCHF on a sell moves, so we are on a support and resistance level, price just left our resistance level and created a nice head and shoulder pattern, leaving us with a trend line break out, so all we need to do is to patiently wait for price to get to our sell zone, well thanks guys if you like this analysis drop a comment on what you think of this.