CADCHF.... BEARISH TRADE IDEA

Greetings guys,

I have come again to give you trade ideas and market secrets (mines ;)).

CADCHF has been bullish for some weeks then we had the bearish retracement (impulsive). Currently we are bullish both on the daily and weekly timeframe. But... there is a but... Price has a monthly strong bullish bias but as I have noticed over time, it will not make this move unless it takes out liquidity (trigger stop losses).

This simply means that we should be expecting a complex pullback to take out the daily low and have a proper retracement on the weekly timeframe to the actual demand zone.

You will notice on my chart that I have indicated the reverse zones (the white lines) where price might continue bullish. Also, I have indicated where liquidity on the bullish end is sitting. If you look at my chart you will see a red line with the dollar ($$) sign sitting above it. That liquidity pool was created on the 1H timeframe (you can go to the 1H timeframe to see clearly). This leads us to notice that price has not tapped into the order block (marked with the red horizontal ray) that caused the impulsive bearish move which could mean that when price returns, it might sweep the 1H timeframe liquidity (as marked on my chart).

If you will take this trade, without confirmation, make sure your stop-loss is above that order block zone. (This approach is kinda risky tho)

Like and follow if you agree with my trade ideas so as you can see more.


Cheers!!!