CADCHF – 3rd Week of March

Weekly Chart The market seems to hold a bullish structure with the market closing with an engulfing candlestick pattern this week. This gives short-run bullish trades a higher winning probability and that’s what we want.
Daily Chart The market has recently broken off from the bearish channel with a strong bullish momentum that has too, smashed previous bearish structure high. This signifies the higher probability of an inefficient selling next week with the influx of buyers.
4 Hour Chart The following week I would be looking for a retracement in either the 4/1 Hour timeframe before entering. I’ll too, be looking for an exhaustion on that retracement before entering, this is to keep my RR ideal and holding my position for the long run (top green line at 0.76239) possible.
Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s