CAD/CHF <<Wait confirmation for Short>>
Good start trading week Good start of trading week at all, I propose the analysis version on this couple, because it is present in my weekly watchlist!
Good reading to everyone.
W1 = Starting from the weekly chart we can see that prices are supported by a long-term , despite the double maximum on resistance (red) where prices have plummeted down, the trend in my opinion remains and the phase too.
Entering we see that despite there being a trend, the indicator does not respect the balance, this because the has been very slow. However, even if he can not tell us if there is equilibrium or not he always remains a faithful friend regarding the reporting of important levels. First level that I identify and report: the Kijun.
I leave this chart with the idea of looking for a short, as the training course teaches, but to have further confirmation or denial I have to go down time-frame.
D1 = Turning to the , there is a downward trend, due to the fall in prices after double max and a phase.
makes me immediately notice that the Kijun Weekly coincides with an extension Ssb * in this time frame. I point out the Kijun Daily and observe that it has remained far behind the prices, this indicates some need to retrace to return to equilibrium also below us has formed a twist of the kumo that opens the passage if the prices want to go down.
OPERATIVITY = In the 4 hours known that the prices have broken the Kijun and have taken the fold that we have been waiting for a while. At this point we will not go now but wait the next important level that can give us an entry is the Ssb *, which as we often know is respected as a as it accompanies the prices.
You could take advantage of the break in 4h and the retest in the same level, to take part in the price drop with objective Kijun Daily and stop to be defined on the basis of price trends, but always on the 4h.
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