2016-03-22_18-51-39cadchf

Dear all,

Lets continue to look at another currency pair that might be ready to be traded.

Ideally we would like to trade in direction of the trend.

We therefore look for lower lows and lower highs or higher lows and higher highs.

As can be seen we are in an up trend.

Now there are only two ways to trade. You buy at a retracement of price or you trade the breakout.

Price is at an interesting location at this daily cadchf chart where I look for confluence.

Price is at our level of support: 0.74000 -0.74450.

The 200 purple moving average supports price from below acting as a dynamic level also of support.

We are in an uptrend trading the path of least resistance and a bullish engulfing candle has been printed.

The target suggested is 0.76900 to 0.77500.

I wish you the BEST OF PIPS

3 thoughts on “Please take a look at the 200 MA”

  1. Ben Leung says:

    Great find, thanks.

  2. Tyler Lund says:

    Thanks Nuno.

  3. daniel chan says:

    Thanks Nuno. beautiful color chart . very clear , easy to see.

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