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Based on the hourly chart of the blade oscillator the CADCHF is having a strong bearish trend by locating at 0.0008 below the level of balance and the indicator is red colored that means there is a strong bearish move will happen in a short time . By using moving average 5 we will notice a UP slope so 0.835 could be considered a good stop loss for if there were sell positions as it is considered the last top by using the indicators signals. http://imagez.me/photos/20141020141384529523128.gif
After taking a quick look on the chart of CADCHF first thing you have a good buy signal on the Henkin Ashi and down arrow on the chart In the same time a sell signal occurs on the trend session indicator by showing a red bar at the last candle In additional to a sell cross taking a place on the trend following indicators Snake and T3-Clean which may be a good signal to open a sell possitions at any good place If you decided to sell you should keep an eye on the level 0.8302 as the price bounced from it the last time then you can consider it asa your first support to close your order once hitting it http://bigimage.cz/photos/20010102978394591905912.gif
A bearish trend seems to be taking place today on the CADCHF pair and that’s according to the red color shown by the Super trend indicator determining by that the main market direction.
A buy signal is indicated from the Nonlog dot indicator and that is by giving us a blue colored dot.
I prefer to wait for the Nonlog indicator till it shows a confirmation then i do think that the sell trades would be taking place more frequently since the signals are currently showing us a strong bearish trend.
For the exit plan I think waiting for the price to hit the resistance 0.8365 would be the best choice or we can always wait for the super trend to change its color to green either way that can only mean that the bearish trend is over and we should be ready for the price to be heading for the opposite direction .
http://bigimage.cz/photos/20010102978421908140288.gif .
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analysis for today 10 / 21 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle CADCHFon the date 10 / 20 / 2014
OPEN 0.8385
HIGH 0.8405
LOW 0.8343
CLOSED 0.8349
The third resistance (R3) 0.8405 -( 0.8366 - 0.8343 = 0.0023 x 2 = 0.0045 )= 0.8450
The second Resistance (R2) 0.8366 + 0.8405 - 0.8343 = 0.8428
First resistance (R1) 0.8366 x 2 = 1.6731 - 0.8343 = 0.8388
pivot points 0.8405 + 0.8343 + 0.8349 = 2.5097 / 3 = 0.8366
Support for the first (S1) 0.8366 x 2 = 1.6731 - 0.8405 = 0.8326
Support second (S2) 0.8366 -( 0.8405 - 0.8343 = 0.0062 ) = 0.8304
Third Support (S3) 0.8343 -( 0.8405 - 0.8366 = 0.0039 x 2 = 0.0079 )= 0.8264
Daily forecast: CADCHF 21 Oct. 2014.
Technical analysis for Daily forecast of CADCHF 21 October, 2014. In Daily chart CADCHF shows bullish trend. At present CADCHF breaks 1st resistance level and going towards the 2nd resistance level. If 2nd resistance level breaks then next strong resistance level is 0.84738.
Pivot: 0.83656
Resistance levels
R1 0.83886
R2 0.84278
R3 0.84508
R4 0.84738
Support levels
S1 0.83264
S2 0.83034
S3 0.82642
S4 0.82250
Attachment 11952
After breaking the resistance level at 0.8426 the price will rise to the 0.8468 level that's why think that we should look only for long opportunities.
http://i.imgur.com/UeyGFzg.png
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analysis for today 10 / 21 / 2014
CAD/CHF (Daily Trade)
I think the movement is still in a bearish trend
retracement (38.2%) 0.8347
Retracement (50%) 0.8346
retracement (61,8%) 0.8345
Extensions (61.8%) 0.8353
Extensions (100.0%) 0.8355
Extensions (138.2%) 0.8357
Extensions (161.8%) 0.8359
calculation based on a Fibonacci retracement then today I choose sell
Cad/chf analysis :
date : 10.21.14
time : 19:00 GMT
time frame : 15 min
current rate :0.8448
high : 0.8459
low : 0.8346
net change : 1.13%
overall trend : slightly bearish
On the CADCHF chart the momentum indicator shows clearly a cross as the blue line goes above the red line to make a good buy signal for the current time The Oracle Strength indicator shows a yellow color and that indicates a upward direction on the CADCHF chart To be more accurate you can see the blue colored arrows which mean that there is a upward signal for now on the Oracle direction indicator From all the data from the indicators above and as long as the momentum indicator shows a buy cross the upward trend is shown on the chart and my advice is to go for the buy trades as long as the ATR indicator shows a buy signals.
http://bigimage.cz/photos/20141017141349898156210.gif .
As you can all realize there is a upward trend taking place on the CADCHF pair indicated by the blue dots appearing on the bars the price may keep going north so long it stays lower than the level 0.8284 which is considered a strong support and also a weekly pivot point that of course until it hits the resistance at level 0.852 which is also a weekly pivot point.
But there is another possibility that might yet take place and that is if the price broke the support 0.8284 and got itself a bearish signal via the red dots in this case I do think that the price will be heading south till it hits the support 0.8181 which is the pivot level of the current week.
http://bigimage.cz/photos/20010103978482277382963.gif .