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CAD/CHF Trading Analysis (16/10/2024)

16.10.2024

Market Review

The trend is down. The pair is trading in a range between 365 and 135 EMA. The ascending wave structures are truncated. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an overbought condition.

Trading idea:

Sell at the start of the formation of the bearish wave structure, when wave A breaks the pivot 2 at 0.6252 of the rising truncated structure.
Stop-loss at 0.6264.
Price targets at 0.6230 and 0.6219.

#cadchf #forex #forextrading #tradersroom #daytradingpatterns #forexexpertadvisor

Author: GC

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