CADCHF is compressing within a descending triangle structure, showing signs of bullish intent as it continues to reject a key demand + 1H order block area.
🔹 Trade Idea:
I’m watching for a bullish breakout above 0.58380, which will also confirm a trendline breakout from the descending triangle. Until then, I remain on the sidelines.
🔹 Key Technical Factors:
- Price consolidating inside a descending triangle, squeezing between lower highs and a consistent demand zone
- Repeated rejections from the green demand zone suggest buyers are defending the level strongly
- A clean order block (1H) is aligned with the bottom of this structure, adding confluence for a bullish move
- Above 0.58380 breakout may trigger momentum toward 0.58630, near the supply zone
🔹 Trade Plan:
+ Buy above: 0.58380 (on breakout + close above trendline)
+ First Target: 0.58630 (next resistance/supply area)
* Invalid if: price breaks and holds below the demand zone
⚠️ Note: Entry is only valid on confirmed breakout. Until then, patience and watchfulness around structure edges are key.
🔹 Trade Idea:
I’m watching for a bullish breakout above 0.58380, which will also confirm a trendline breakout from the descending triangle. Until then, I remain on the sidelines.
🔹 Key Technical Factors:
- Price consolidating inside a descending triangle, squeezing between lower highs and a consistent demand zone
- Repeated rejections from the green demand zone suggest buyers are defending the level strongly
- A clean order block (1H) is aligned with the bottom of this structure, adding confluence for a bullish move
- Above 0.58380 breakout may trigger momentum toward 0.58630, near the supply zone
🔹 Trade Plan:
+ Buy above: 0.58380 (on breakout + close above trendline)
+ First Target: 0.58630 (next resistance/supply area)
* Invalid if: price breaks and holds below the demand zone
⚠️ Note: Entry is only valid on confirmed breakout. Until then, patience and watchfulness around structure edges are key.
Trade closed: target reached
Target Reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.