The 5%ers' Blog

Price Action Analysis on CAD/CHF for Swing Traders

May 28, 2019 | 1:49 pm | The 5%ers' Blog
May 28, 2019 | 1:49 pm
The 5%ers' Blog

28/05/2019

In the 4H chart, which relevant mostly for swing traders, we can see the CAD/CHF is bearish.

In the 1D chart, we can see the price is ranging between 0.7600 at the top, to 0.7400 at the bottom.

For now, there are 3 scenarios that we should wait for as swing traders:

1 – If the price reaches the supply above – it will be a great opportunity for sell position,

the target for this position is the demand below,

2 – If the price will reach the demand below – it will be a great opportunity for buy position,

the target will be the supply above,

3 – If the price will break out the supply above it indicates the price tends to reach the resistance at the top, in that case – we should look for price action setup to buy, the target will be the resistance at the top.

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