CADCHF
This thread is devoted to CAD/CHF discussions.
Volatility seems to be returning. CAD/CHF is in a perfect range. Resistance tested twice, support tested twice. Planning on trading the break outside the range.
Sell stop below 0.9678. Buy stop above 0.9923. Stop loss for either trade will be above 100 pips since I'm a swingtrader. I'm sure daytraders can work out a smaller stop loss or wait until price re-tests these levels after the breakout then jump it.
Three days later and nothing changed in this range except we are several pips closer to the area where the major decision will take place at the 0.9679 support line.
Support & Resistance
Support: 0.9627 / 0.9651 / 0.9676
Resistance : 0.9736 / 0.9760 / 0.9784
0.9678 support was broken, followed by a rapid 90 pips drop.
Main trend is down; next target for a continuation of the drop is around 0.9500 support level from 5th November + 31st August.
Support & Resistance
Support: 0.9460 /0.9484 / 0.9508
Resistance: 0.9683 /0.9707/ 0.9731
my RSI is on the floor with these pair strong down movement , my point to watch is 0.9557, support , and after that open space ! And then again 10 pips spread
To old dog to be screwed by young puppies
This is why these minor pairs are good for swing trading only. It's next to impossible to find an edge in scalping or intra-day trading to cover that kind of spread.Originally Posted by Laki41
my RSI is on the floor with these pair strong down movement , my point to watch is 0.9557, support , and after that open space ! And then again 10 pips spread
+124 pips now since the support was broken. Easy to cover the spread and have a long term edge with big setups.
support & resistance Dec 16
support: 0.9528 / 0.9552 /0.9576
resistance : 0.9718 /0.9742 / 0.9766
0.9656 is a resistance point to confirm this up trend , but i think its only a temporarily up trend , and a pull back is possible !
To old dog to be screwed by young puppies
160 pips down then 160 pips up just as quickly. It will be interesting to see if there are any reactions around 0.9679 for starters; previous support and the first fibonacci retracement level is there.
Above 0.9679 there was a range in the past so the chances of a clean continuation of the downtrend decrease exponentially in that area.
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