I saw analysts who analyse this pair (CADCHF) and they conclude that there is sell setup because of some meaningless reasons. I anticipate there is one more wave to the upside to complete this corrective pattern and after that, there is a sell setup, but if you sell now and your stop loss is at 0.76130, there is a high probability that price hit your SL and then reverse to downside, to your favorite direction but this time without you... I will be looking for sell setup if it makes a wave to upside as I anticipate, or if it breaks the channel (below 0.75134) and a correction.
Yorum
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still waiting for a wave to upside.
Yorum
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The (Y) wave formed as expected. Now there is a nice short trade. you can enter now or you can wait for a correction as a confirmation and then enter short, it depends on your personality and strategy.
Yorum
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this structure completely possible for one more wave to upside, so if you are in the sell side, be ready for that and use an appropriate strategy