I think that breaking the lower trendline of the downside channel decree below is a good opportunity to get in short position with take profit at 0.8459.
http://i.imgur.com/ONSWBgU.png
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I think that breaking the lower trendline of the downside channel decree below is a good opportunity to get in short position with take profit at 0.8459.
http://i.imgur.com/ONSWBgU.png
pair- cad/chf
analysis time frame- m30
http://i57.tinypic.com/2vdqomg.jpg
the price is making lower to low and the macd indicator is lower to high side. the rsi indicator is moved below the 30 level and showing strong oversold the price is also break the support at 0.8465 level. this will continue down and moved to the 0.8400 level. hold the short entry with stop loss at 0.8519
good luck.
The price is in a very strong downside mouvement that's why I think that we can get in short position with take profit at 0.8394.
http://i.imgur.com/xiKV4UL.png
As you can all realize there is a downward trend taking place on the CADCHF pair indicated by the red dots appearing on the bars the price may keep going south so long it stays lower than the level 0.8708 which is considered a strong resistance and also a weekly pivot point that of course until it hits the support at level 0.8486 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 resistance 0.8708 and got itself a bullish signal via the blue dots in this case I do think that the price will be heading north till it hits the resistance 0.8784 which is the pivot level of the current week.
http://bigimage.cz/photos/20141130141737563104251.gif .
the CADCHF pair have a down channel as you can mention on the chart then thinking about an bearish direction on the few coming hours is strongly .
By the current time the price hits the recommended upper edge of the Donchin Channel indicator alerting for a good chance for south movement.
Another signal is given by the awesome indicator as the price keeps below the zero's level and showing green color which could be recognized as a good buy signal.
Finally I can see the signal of bearish direction on the stostatic according to the last sell intersection between the two lines near the 80 Th level.
Waiting a confirmation of selling direction form awesome indicator is a wise but in the same time the current situation could encourage the sell trades as long as the price didn't reach the low edge of Donchin channel http://bigimage.cz/photos/20141201141744027668787.gif
On the CADCHF a bullish cross is currently taking place between the 9 and the 152 EMAs indicating by that the possibility that the price will be heading north soon.
After monitoring the histogram indicator we can notice that a red line is starting to take shape forming by that a bearish signal for the pair by being located under the 0 histogram level.
As for the market emotion indicator which is giving us a green line meaning by that that the price will be starting to rise to reach higher prices.
On the guru angle indicator we can notice that the slope is currently moving below the 0 level colored as red indicating by that a bearish direction now.
Clearly we can see that the price might be heading north in order to test the next resistance located at the price 0.852 that's why I do recommend that as long as the indicators keep showing the same signals we should go with buy orders.
http://bigimage.cz/photos/20141201141744210171723.gif
analysis for today 12 / 2 / 2014
CAD/CHF (Daily Trade)
I think the movement is still in a bullish trend
retracement (38.2%) 0.8497
Retracement (50%) 0.8494
retracement (61,8%) 0.8491
Extensions (61.8%) 0.8524
Extensions (100.0%) 0.8534
Extensions (138.2%) 0.8544
Extensions (161.8%) 0.8550
calculation based on a Fibonacci retracement then today I choose buy
On the CADCHF 1H chart we can see a bullish trend as we can notice the green arrow on the chart the trend is supported with a bottom located at 0.8435 which can be used as a strong support that the price couldn't go below it in case that the bullish trend still strong.
The parabolic sar dots is located above the candles that is a sign that the price is going to move down In case that the buying trades are happening we can consider the resistance which located at 0.8545 as a good area to close some of the open positions as the price has a good chance to go south after hitting it.
http://bigimage.cz/photos/20141202141751890122400.gif
The price is moving below the wave of EMA indicators to perform a shape of bearish direction through the day at the chart of CADCHF pair.
And with a buy signal showing on the RSI indicator which have the line going above the center line of 50.
This also can be merged with the data of Macd indicator as you can see the green lines is heading up to inform that the market bulls have the control at the market for the current period.
Then I think going with the bears at the current day and keep at the market until another buy signals shown on the cart by getting the price over the wave of EMA indicators .
http://bigimage.cz/photos/20141202141751944809187.gif
As you can see on the CADCHF chart in front of us the blue line’s position in the moment indicator is above the red line which means a good buying signal should be occurring.
also the yellow color shown in the oracle strength indicator means that a upwards direction signal is going to take place.
The oracle direction indicator could serve as a filtering tool with the red colors shown on the arrows meaning that a downward signal would be taking place in short term trades.
Summing all that up in my opinion I do think that the trend would be taking a upward direction but that can only happen if the moment buy cross was taking place on the chart And as long as the ATR indicator keeps showing buying signals then without doubt the buy trades would be a better choice for entry.
http://bigimage.cz/photos/20141202141752054675189.gif