CADCHF – BOS and bearish continuation .. the week of 24 Feb
Weekly – bearish.
Daily – bearish after a break of structure (BOS). Price below 200sma.
H4 – bearish (visible sequence of lower highs and lower lows).
Price has broken below a significant support/resistance area that has been tested multiple times. This break below also occurred with momentum as you can see from the large red candle. I expect a pullback to the zone (marked in green) and if that happens, I will be looking for signs of a bearish continuation.
If a short trade does set up, my stop would be placed above the recent swing high and an initial target at 0.62580 with the potential to go down to 0.6200.
This is not a trade recommendation, merely my own analysis. Trading carries a high level of risk, so only trade with money you can afford to lose and carefully manage your capital and risk. If you like my idea, please give a “boost” and follow me to get even more. Please comment and share your thoughts too!!
It’s not whether you are right or wrong, but how much money you make when you are right and how much you lose when you are wrong – George Soros
Daily – bearish after a break of structure (BOS). Price below 200sma.
H4 – bearish (visible sequence of lower highs and lower lows).
Price has broken below a significant support/resistance area that has been tested multiple times. This break below also occurred with momentum as you can see from the large red candle. I expect a pullback to the zone (marked in green) and if that happens, I will be looking for signs of a bearish continuation.
If a short trade does set up, my stop would be placed above the recent swing high and an initial target at 0.62580 with the potential to go down to 0.6200.
This is not a trade recommendation, merely my own analysis. Trading carries a high level of risk, so only trade with money you can afford to lose and carefully manage your capital and risk. If you like my idea, please give a “boost” and follow me to get even more. Please comment and share your thoughts too!!
It’s not whether you are right or wrong, but how much money you make when you are right and how much you lose when you are wrong – George Soros
Trade aktif
Target 1 achieved, rather effortlessly I would say.
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Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.