CADCHF - Looking To Buy Pullbacks In The Short TermH1 - Bullish trend pattern
Strong bullish momentum
Until the strong support zone holds my short term view remains bullish.
Cadchfbullish
CAD/CHF: Bullish Reversal Expected at Key Support levelThe CAD/CHF currency pair is currently forming a Bullish Crab Harmonic Pattern (XABCD). Point D, identified as the Potential Reversal Zone (PRZ), aligns with multiple technical confluences, suggesting a high probability for a bullish trend reversal.
______________________Key Technical Confluences____________________
Potential Reversal Zone (PRZ):
Point D, our PRZ, is critical for anticipating a trend reversal. It coincides with:
Key Support Area: This area has historically acted as a strong support level, providing a firm foundation for a potential bullish reversal.
Daily Trend Line: The PRZ intersects with a long-term daily trend line, reinforcing the likelihood of a reversal.
61.8% Fibonacci Level: The PRZ also aligns with the 61.8% Fibonacci retracement level, a significant indicator of potential price reversal in harmonic patterns.
Entry Strategy:
To capitalize on the anticipated bullish trend reversal, we recommend taking a position at the breakout of the resistance level near 0.65370. This level is crucial as a successful breakout here confirms the reversal pattern.
Stop Loss:
Place the stop loss slightly above the support level at 0.65590 for risk management. This placement ensures protection against false breakouts and market volatility.
Take Profit Targets:
We have outlined three profit levels to maximize returns while managing risk effectively:
TP-1: 0.65150
TP-2: 0.64930
TP-3: 0.64710
Each take-profit level offers a strategic point to secure profits as the market progresses in our anticipated direction.
Conclusion:
The convergence of technical factors at Point D strongly indicates a potential bullish reversal for CAD/CHF. By aligning our entry, stop loss, and take profit levels with these confluences, we enhance our trading strategy's robustness and probability of success.
Trade with caution and ensure adherence to your risk management protocols.
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 ;)
CADCHF - Looking To Buy Pullbacks In The Short TermH4 - Bullish trend pattern.
No opposite signs.
Until the strong support zone holds I expect the price to move higher further after pullbacks.
CADCHF - Looking To Buy Pullbacks In The Short TermH4 - Bullish trend pattern.
Currently it looks like a pullback is happening.
Until the strong support zone holds I expect the price to move higher further after pullbacks.
CADCHF LONG TRADEMarket has been falling and showed rejection at 0.6490 support area. Also, stocastic RSI is oversold and should attract buying pressure. Looking for buying opportunities and take profit at 0.6600 resistance level.
CADCHF SHORT BULLISHHello traders, I hope everyone has a nice and profitable week. We are testing support-demand zone and also in the bullish flag pattern. We just did double bottom and waiting for upside push soon. Please support this idea with like If you find it useful.
The information given is not a financial advice. Remember this analysis is not %100 accurate. To make decision please follow your own thoughts.
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CADCHF Invalidates 0.6979 ResistanceSignposts on chart outline key details. We're seeing an upper resistance invalidate. When price crossed back below, selling pressure remained weak. This will hopefully trap a bunch of sellers before pushing higher.
[ Note that ideas published represent my viewpoints on structural directional movements. I do not post explicit trade parameters (i.e. entry, take profit, stop loss, etc.) as these are set to in reference with my expectancy. Since my win rate and R-multiple targets are different, ideas published are simply a resource to provide guidance. You are expected to manage your own trading decisions. ]
