CADCHF long signal

buy sell forex

How is everything traders??? Are you ready for the NFP report later this week?

I know you already know about the risks of trading during the NFP, which is today the second most important fundamental announcement (second to the FOMC Minutes).

The sentiment of the market could change in just a few seconds, so please, be careful alright?

Now, it’s not that the market will move hundreds of pips in a few minutes (like it used to move), these days it just whipsaws and thats it…

So please don’t try to trade it…

Focus on real opportunities, try to understand what the market is doing what it is likely to do, and once you have that information, trade it…

Only then the odds will be in your favor. Ok?

Ok, lets get to today’s signal!

CADCHF Long Term Analysis

Based on the long term charts, its clear that the CADCHF is trading in a very clear bullish condition…

CADCHD Daily Chart

Got rejected from an important support level (0.8144) and as you already know, once the market gets rejected from an important level, it is likely to continue its way up at least until it reaches its next resistance level which is at 0.8520.

The CADCHF is currently trading at 0.8368 so we’ve got plenty of room and time to look for our trade.

CADCHF Short Term Analysis and Signal

Now, here is the short term chart:

CADCHF 1H

What I like about the CADCHF is that it is trading in a very clear range, it’s got clear S&R levels which adds to my confidence and makes me feel more confortable looking for trades.

Ok, so one possibility is to look for a trade around the bottom of the range, the other is to wait for the market to break the upper resistance level.

So this is my entry order for the second scenario:

Entry stop order: 0.8373 + spread
SL: 0.8343
TP: 0.8490

Your turn

Are you going to trade during the NFP report later this week?

What are your thoughts about the CADCHF?

Are you going to take this signal?

Share your thoughts

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Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .

  • pduarte

    About the GBPUSD I think we can have another chance to go long above 1,7171.

    What do you think?

    Cheer’s,

    Paulo

    • Raul Lopez

      That’s correct, there an opportunity to add to the trade with the breakout of the ST range… I’m also looking forward to trade that breakout!

      Have a great weekend!

  • pduarte

    Hello Raul,

    Let me tell you my positions.

    I am long in the XAUUSD and losing. I have my SL at 1306
    Long in CADJPY since 95,29.
    Short in the EURCAD since 1,4590
    Short in the EURNZD since 1,5515 and loosing, SL at 1,57
    Short in the USDCAD since 1,0677
    Long in GBPUSD since 1,7075
    Long in CADCHF since 0,8375
    Short in EURGBP since 0,7955
    And a pending order to short the NZDCAD at 0,9286
    I have lost an entry in the GBPAUD
    Waiting to enter long on the euraud, Short on the AUDCAD
    putting an eye in the AUDJPY, GBPJPY, GBPAUD and GBPCHF.

    So about the market, I have something to say…. I’TS ALIVE

    What do you think about my analysis.

    Cheer’s

    Paulo

    • Raul Lopez

      Hey Paulo, you are doing great body! You have a lot of winning positions there! So go enjoy your weekend heheheh

      When do you plan to take profits on them???

      The only one I dont see that clear is the XAUUSD… It might continue its way up, but from the long term perspective, it doesnt have clear S&R levels…

      Again Paulo, congrats for your analysis, you are doing a great job!

      Cheers!

  • Shez

    Hey Raul
    Why did you not draw a resistance line at 0.8300?
    Personally I would have done so. I would then have then seen that very recently (within last few days) a breakout happened, and it came back for a retest, and got rejected. Id now wait for my confirmation candle, and enter for a buy.

    Is my way of analysis and entering wrong? Could that possibly be where Im making my major mistakes? Or is it a completely viable thing to do..

    Cheers dude, and really like these breakdowns you do
    Shez

    • Raul Lopez

      Hey Shez,

      I chose 0.8300 because the market bas been rejected from there before…

      And your analysis is correct…

  • pduarte

    Hello Raul,

    Let’s not talk about football, mainly about Portugal, what happened with those guys? Too much brasilien girls?

    Well about trading, I agree that CADCHF and CADJPY are good ones, in fact most of the cad crosses are good to go. I am short on the USDCAD since 1,0680, now I think I am about to close it because of the ADP Nonfarm Employment Change. The GBPUSD and the EURGBP are good too, but we have to wait for those announcements.

    What do you think about it.

    Cheer´s ,

    Paulo

    • Raul Lopez

      Good idea Paulo… lets not talk about Football… for about 4 years…

      Yep, CADJPY was a good one also… Did you trade it?

      How did you manage your trades? Are you still holding them?

      Please let me know.

  • Chad Hogan

    Hi Raul,

    Yes Cadchf seems like one of the better options at the moment. Tania has already got long on it. I was waiting for a break of range. I missed that two candle signal on the bottom of the range! I took the breakout on Cadjpy, it was triggered overnight. Hopefully I make some pips before the NFP..

    • Raul Lopez

      Good for Tania!!!! I wish I was at the computer when that happened… If there is a breakout she can certainly add to that trade…

      CADJPY is another one that I like today… pretty clear isnt it? And there is a long way to go before we reach the next level!

      Good one Chad!

      I know, the NFP might change things a bit, but lets hope the market moves on our favor enough to hold our trade…

      We’ll see…

  • Tim van Niekerk

    I like both.so I’m in on both.Weekly Eurcad looks good for 1.4525 or so.
    And like you said Raul, if Cadchf breaks, 0.8500 is possible.
    Keep up the good work!

    • Raul Lopez

      Hey Tim, I agree with you, both of them look good…

  • tp

    Hey Raul, I do think CADCHF is good. Preferably I execute my trade in EURCAD. The trend is clearer. :)

    • Raul Lopez

      Hello TP, EURCAD is good too (for shorts)… I like both of them…