CAD/CHF (Trend Continuation - Short)
1. Lower Highs Lower Lows
2. Below 50 & 200 EMA
3. Horizontal Resistance (0.9100)
4. RSI Convergence
5. Price Action (Doji Bar)
6. Fib Retracement Resistance (0.50%)
The only concern is the hard level of 0.9032 is in the way
AUD/NZD (Trend Reversal - Long)
The pair is on its strong monthly, weekly & daily support level of 1.2172. RSI is giving strong divergence signal while made an inside bar. The only missing thing is Fib Extention level which I am really wondering about as couple of week ago EUR/AUD same scenario happend when it wasn't giving any Fib Extention level but it was profitable trade. Even in USD/CAD & EUR/CAD in Trend Reversal trades (last few weeks) there was no Fib Extention level but the trade turned out profitable.
So the recent oppertunities of Range Based Reversal & Trend Reversal missed out due to no Fib Extention level but they all turned out profitable.
CADCHF
ReplyDeleteAgree with you about the concern of the hard level at 9032 and therefore that wouldn't allow us a 2:1 Rr -> No trade. It's one to keep an eye on it though. If it pulls back a bit further we might be able to have a protected stop behind the fib 61.8% and a monthly pivot and an entry closer to 91. have a good weekend
AUDNZD
Agreed in terms of fib extentions that made us miss out. what's the famous line? follow the process and not the price. :-) have a good weekend