CADCHF: The market is reacting around a strong SWING!Hello, everybody and welcome to Cybernetics Trading Lab, today we are going to analyse the CADCHF, translating the market information by using a full technical analysis on different time frames, giving you a personal opinion about the next most likely market movement and helping you to spot and manage market opportunities.
Higher timeframe:
Lower timeframe:
In HTF this market reached an interesting swing at around 0.71700, which reversed the direction the last March. At the end of September 2022, it approached on the current area, double topping and reversing, after it has been moving inside a descending channel for almost 6 months.
Currently, the price is correcting (still inside the structure ) with a possibility to see further bullish price action.
When, where and why would we step into the market?
The market is not ready for a long trade, not so much space inside the structure to enter long with a good RR, however, a breakout to the upside of the main structure would be an interesting entry point to take advantage of!
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Cybernetics Trading Lab
