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CAD/CHF Downward Channel

Daytrader21 Posted 15 Apr.  in #Trader's blog #Resistance #Bearish #CAD/CHF #Elliott Wave #Channel #Pivot
I've been posted this analysis in Technical Analysis Contest as well but I thought it has great potential to turn into a nice trade so I'm sharing my analysis here as well: CAD/CHF Downward Channel
Over the last several year CAD/CHF trend has been very consistent and we have been moving in a downward channel without any kind of deep retracement which shows the fact that this bearish trend is very strong and current price action doesn't suggest that there are many big support level that ca…
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CAD/CHF Downward Channel

Daytrader21 Posted 13 Apr. as Analysis on CAD/CHF, Target: 0.7785, Date: 2nd of June, 12:00 GMT  in #Technical analysis #Support #Resistance #Bearish #CAD/CHF #Elliott Wave #Downward Channel #Pivot
Over the last several year CAD/CHF trend has been very consistent and we have been moving in a downward channel without any kind of deep retracement which shows the fact that this bearish trend is very strong and current price action doesn't suggest that there are many big support level that can stop this bearish trend. I'm still expecting this trend to press lower and to retest the all time swing low level at 0.7100.
In Figure 1 we have the CAD/CHF weekly chart where we can visualize how slo…
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4 Comments
Convallium avatar
Convallium 13 Apr.

Daytrader21 when do you have  time to write so many blog posts?  it is amazing) !

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Daytrader21 21 Apr.

Update 1: We have been trading in a very narrow market in the last week between 0.7960 support level and 0.8030 resistance level.This is just the first leg that started from the 0.8160 swing high level, based on my prediction we should see a five wave to the downside.

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Daytrader21 7 May

Update 2: The narrow market condition has been very persistent over the last two weeks and we're still stuck in a tight congestion zone: 0.8050-0.7950. I suspect we're going to break to the downside and trade in the direction of the main trend.

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Daytrader21 17 May

Update 3: Unfortunately this pair doesn't follow my forecast and it seems the momentum already started to pick up.

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