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CADCHF trade ideas

CAD/CHF Eyeing Key Reversal: Watch the 0.66 Pivot!The chart indicates that the CAD/CHF currency pair may be heading for a retracement starting around the 0.6610 level. This area is significant because it coincides with the 0.5 Fibonacci level where previously we saw a sharp price increase, suggesting it's a strong order block level. The trend from 0.6463 to 0.6720 shows strong bullish momentum. Both the Fibonacci and the order block levels highlight a key zone ranging from 0.6610 to 0.6587. For this scenario, a stop loss is recommended below the 0.6588 level.
Long
by ClearTradingMind
CADCHF in CHADCHF Bullmode!I would like to quote a wise (and profitable) trader at this point: "Trading is a simple game. What makes it so complicated is the presence of the SNB." Put simply: I'm buying the CAD against CHF for a long-term swing trade. The reasons for this are short and sweet: - As predicted back in February, Swiss inflation fell below 2% in July. - As predicted, Swiss inflation fell much faster than the SNB had expected (currently at 1.4%) - As predicted, the SNB raised interest rates for the last time in June and paused in September - Tomorrow the SNB will not raise rates, but the market will start to price in possible SNB rate cuts for 2024 - My forecast: 1st rate cut by the SNB in 2024 will be in March or June - As predicted in this trade idea, the Swiss economy is increasingly weakening and flirting very aggressively with a possible recession, which would seal 2-3 possible rate cuts in 2024 And no, this text was not written by CHADGPT (an AI would now say ;)
Long
by PrimeTrading
USD/JPY Short and CAD/CHF ShortUSD/JPY Short Minimum entry requirements: • Tap into area of value. • 1H impulse down below area of interest. • If 2 touch 5 min continuation, reduced risk entry on the break of it. • If 2 touch 15 min continuation, 5 min risk entry within it, or reduced risk entry on the break of it. CAD/CHF Short Minimum entry requirements: • Tap into area of value. • 1H impulse down below area of value. • If 2 touch 15 min continuation, 5 min risk entry within it, or reduced risk entry on the break of it.
Short
by StewySongs
CAD/CHF - Bullish Reversal Potential following Anti-ButterflyIntroduction: CAD/CHF has recently formed an Anti-Butterfly XABCD harmonic pattern, indicating a potential bullish reversal. This technical analysis aims to provide insights into potential entry and exit points for traders interested in capitalizing on this pattern. Pattern Formation: The Anti-Butterfly XABCD pattern on CAD/CHF suggests a reversal in the prevailing downtrend. This pattern typically consists of four distinct price swings, labeled X, A, B, and C, followed by a potential reversal at point D. Key Levels and Entry Points: Based on the identified pattern, traders may consider entering the market near 0.66560. This level aligns with the anticipated bullish move from point D of the harmonic pattern. However, prudent risk management dictates placing a Stop Loss near 0.66156 to mitigate potential downside risk. Profit Targets: Traders can set multiple profit targets to capitalize on the expected bullish momentum. The first profit target (TP-1) is set at 0.66950, aiming to capture the initial upward momentum. Subsequent profit targets include TP-2 at 0.67340 and TP-3 at 0.67735, reflecting further potential upside potential as the bullish move unfolds. Risk Management: It's essential for traders to adhere to proper risk management principles, including setting appropriate stop-loss levels and position sizing based on individual risk tolerance and trading objectives. Conclusion: In summary, the formation of the Anti-Butterfly XABCD harmonic pattern on CAD/CHF suggests a bullish reversal scenario. Traders may consider entering the market near 0.66560, with a stop loss at 0.66156, and targeting profit levels at 0.66950, 0.67340, and 0.67735. However, as with any trading strategy, prudent risk management is crucial to navigating market fluctuations effectively.
Long
by trading_jupiter
1
CADCHF Quick sell 1:3 Risk reward ratioI took a sell on friday on cadchf and i am currently in a draw-down on one of the trade but i strongly believe that the trade would drop from here because there is alot of head and shoulder patterns on multiple time frames suggesting it will drop and alot of confluences. I entered another trade again on a smaller timeframe again with fewer pips risk to add to my position. I see cadchf dropping all the way to that juicy zone down there Let me get your take on this signal and kindly follow and leave a boost thanks!
Short
by ForexPotatoe
CADCHF - Keep It Simple🍰Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📉 From a long-term perspective , CADCHF has been overall bearish, trading within the falling channel in red. 📈 From a medium-term perspective, CADCHF is in a correction phase trading within the rising wedge pattern in blue. 🏹 The highlighted red circle is a strong area to look for sell setups as it is the intersection of the upper red and blue trendlines. 📚 As per my trading style: As #CADCHF is around the blue circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Short
by TheSignalyst
SELL CADCHF for trend reversal SELL CADCHF for trend reversal update SELL CADCHF NOW ✅ STOP LOSS : 0.6682 From the movement is showing a possible trend reversal because more of the traders trading with the trend are already existing there trade positions , and on the daily time frame there is already signal of regular divergence which indicates a possible trend reversal too... there is a bigger chance of a possible reversal from this level...... you are free to contact me directly here and i will respond to all questions TAKE PROFIT : take profit will be when the trend comes to an end, feel from to send me a direct DM if you have any question about take profit or anything Remember to risk only what you are comfortable with…….trading with the trend, patient and good risk management is the key to success here
Short
by BALE_FX
Bearish Divergence on the CADCHF 4h ChartBearish Divergence with CCI (Commodity Channel Index) A bearish divergence occurs when the price is making higher highs (indicating bullish sentiment), but the CCI, which measures the variation of a security's price from its statistical mean, is making lower highs. This discrepancy can signal weakening momentum in the upward price movement, suggesting a potential reversal or pullback. In this case, this divergence on the 4h chart indicates that despite the price climbing, the momentum behind this rise is fading, hinting at a possible downturn. MACD (Moving Average Convergence Divergence) Crossing Down The MACD is a trend-following momentum indicator that shows the relationship between two moving averages of a security's price. A downward cross, where the MACD line crosses below the signal line, is a bearish signal. It suggests that the short-term momentum is slowing down compared to the long-term momentum, reinforcing the bearish sentiment indicated by the bearish divergence in the CCI. Price Touching the Upper Bollinger Band This suggests the market might be in an overbought condition, especially in the context of the bearish divergence with the CCI and the MACD crossing down. When the price hits the upper band, it's common for traders to expect a retracement or reversal, as the market could be seen as stretched too far to the upside. Price Ranging Above an Untouched Weekly Pivot Point Pivot points are used to identify potential support and resistance levels. The fact that the price is ranging above the weekly pivot point and hasn't touched it yet indicates that this level could act as a target for the downward movement. Pivot points are often considered floors or ceilings in market price movements, with the price making significant moves upon reaching these points. Potential Drop to the Weekly Pivot Point at 0.66417 Considering the bearish signals from both the CCI divergence and the MACD crossover, along with the price's current position above an untouched pivot point, the analysis suggests that there's potential for a downward move towards the weekly pivot point at 0.66417. This level could serve as a short-term objective for bears in the market or a reversal point for traders to watch closely. Summary This analysis points to a cautious stance for traders, with a bearish outlook in the short term based on the technical indicators that were highlighted. It would be wise to monitor these indicators closely, along with other market factors, to confirm any potential moves before making trading decisions. Always remember, while technical analysis can provide insights into market movements, it's crucial to consider a wide range of factors, including market news and economic indicators, before trading.
Short
by TradingClue