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