Tuesday, August 02, 2011
1 Aug 2011
Bullish Deep Crab Pattern On CADCHF Hourly Chart.
This pattern is define by 88.6% retracement of XA at B point and 38.2% retracement of AB at C point.
PRZ :
1.27AB=CD @0.8160
1.618XA @0.8112
2.24BC @0.8092
However i think it is quite dangerous to jump in long position at the moment. Price action is testing the PRZ and was in all time low at 0.8070. I will be looking on the retest of the PRZ. This pair still in strong predominant downtrend.
4H Bearish Channel On CADCHF.
This pattern is define by 88.6% retracement of XA at B point and 38.2% retracement of AB at C point.
1.27AB=CD @0.8160
1.618XA @0.8112
2.24BC @0.8092
However i think it is quite dangerous to jump in long position at the moment. Price action is testing the PRZ and was in all time low at 0.8070. I will be looking on the retest of the PRZ. This pair still in strong predominant downtrend.
4H Bearish Channel On CADCHF.
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