Vladimir Ribakov analyzes CAD/CHF for a day trade on January 23, 2020, spotting bullish divergences on MACD and RSI plus a false breakout on the 4-hour chart. He plans to enter on a corrective rally targeting a specific support zone, exiting if price fails to hold higher highs.
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Hey guys, how are you? Vladimir Bakov here from Traders Academy Club, and I hope you enjoy your, uh, your day. The market is moving, and as traders, what we need is that exactly— the market to move. So, uh, today, uh, I record this video as a day trading opportunity for, uh, 23 January 2020, and today on the menu is the CAD versus the franc. But before I dig deeper, yesterday I shared with you the CAD yen sell idea. It was right here as we broke this momentum and we're moving down. The idea was sell pullbacks. We got pullbacks. They were not big, but they were they were providing amazing opportunity, and this pair delivered. So I hope you find it useful, helpful, and that you enjoyed some of the move. To all those of you who sent me the message updating about the profits, thank you very much. It it's a big honor to be able to help. So today, as I have said before. We are on the CAD franc. But by the way, if you missed the CAD yen yesterday and you want to see why I was after the sell there, right now on the right top corner of this video you would be able to find a direct link to the CAD yen and see what it was all about. So CAD franc, I am— where is my CAD franc? Here. I am after a possible buy opportunity here, and here is Why? First of all, on the longer observation, we are right at the bottom of this chart. Bullish divergence on a moving average taking place, and this is at the end of a triple cycle. Dropping down to the 1-hour chart, we can see that we were ending here with a bullish divergence, both MACD and RSI. From this moment, Likely to assume going back to the four-hour chart, we completed a false break here, false breakout. And take a look on this massive candle, beautiful engulfing. I would say amazing engulfing. On a daily chart, we spiked through this supportive area. It is a very, very strong zone as you can see, and it seems like we are bouncing back. So my assumption is that we are going to see a corrective cycle. At least in some sort of variation. Dropping down to the lower time frame, uh, sorry, 15 minutes, we can see that we had a Bollinger Band straight move to move from band to band, which was duplicated and created 20 candles, right? Ended up with a bearish divergence. So retraces down should likely to provide us this opportunity to enjoy some sort of a rally. For longer view, I would say that this would be the best scenario if we can get 3 higher highs, higher lows, ideally to this zone. From there, for some sort of 2-wave correction and then push one more time, it would be the ideal setup. Will the market really follow up my lines? Only time will judge, but this is how I would see How I would want to see the price action behavior, and this is how I plan to trade it. If I get from the market what I plan, I trade it. If the market does not give me what I plan, then I simply skip it and move on to the next opportunity. So yesterday CAD yen hit us a great profit, and today we have a CAD franc. Let me know how do you find these ideas. If you do like them and you find them helpful, please. Hit the like button below this video. Your help is very much appreciated. And if you are watching us for the first time, then welcome to the channel, welcome to our trading community. And I would like to invite you to subscribe to this channel. Just follow the subscribe button below the video. Remember to enable, enable the notification so you know when I upload a new trading idea or educational content for you. As well, I would like to invite you to join my live trading rooms where you will be exposed to all the trading ideas on daily basis. And you can always follow us in a free Telegram channel where we share on daily basis trading ideas, education, articles, and much, much more completely free. Both links to join are right below this video, uh, in the description and in the pinned comment in the comment section. And thank you for your time. I wish you a fantastic evening, day, and weekend to come. I'm Vladimir Ribakov from Traders Academy Club, and I'll see you next week with other videos, other opportunities. Meanwhile, enjoy your time, and thank you once again for watching.
