Canadian Dollar/Swiss Franc
Short
Aggiornato

CADCHF Squeeze Between OB and Trendline – Big Move Coming?

108
CADCHF is compressing within a descending triangle structure, showing signs of bullish intent as it continues to reject a key demand + 1H order block area.

🔹 Trade Idea:
I’m watching for a bullish breakout above 0.58380, which will also confirm a trendline breakout from the descending triangle. Until then, I remain on the sidelines.

🔹 Key Technical Factors:

- Price consolidating inside a descending triangle, squeezing between lower highs and a consistent demand zone

- Repeated rejections from the green demand zone suggest buyers are defending the level strongly

- A clean order block (1H) is aligned with the bottom of this structure, adding confluence for a bullish move

- Above 0.58380 breakout may trigger momentum toward 0.58630, near the supply zone

🔹 Trade Plan:

+ Buy above: 0.58380 (on breakout + close above trendline)

+ First Target: 0.58630 (next resistance/supply area)

* Invalid if: price breaks and holds below the demand zone

⚠️ Note: Entry is only valid on confirmed breakout. Until then, patience and watchfulness around structure edges are key.
Trade chiuso: obiettivo raggiunto
istantanea
Target Reached

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