Range playas gather ’round!
Whether you like trading fiat currencies or you’re more interested in crypto, I got yo back with short-term range plays on CAD/CHF and ether (ETH/USD)
Check them out!
ETH/USD: 4-hour
ETH/USD 4-Hour Chart
I don’t know if you’ve noticed but ether (ETH/USD) has been trading between 1,270 and 1,380 since dropping sharply in mid-September.The odds are on the bulls’ side today as ETH/USD revisits the range support zone.
It doesn’t hurt that Stochastic has also dropped to the oversold area and could get the attention of some buyers.
A long trade at current levels would yield a good risk ratio especially if you’re betting on ETH/USD bouncing back up to the 1,380 range resistance.
Not confident in ETH gaining ground against USD?
You can also bet on a downside breakout but you gotta make sure that ETH/USD has firmly broken below its range before you place any short trades!
CAD/CHF: Daily
CAD/CHF Daily Forex Chart
Here’s one for my fiat-trading brothers and sisters out there!CAD/CHF is about 100 pips away from the .7170 range support that hasn’t been broken since March 2021.
That doesn’t mean you can’t profit from this range though!
CAD/CHF bulls can wait for a clear break above the .7300 mid-range levels and still get a good risk ratio if CAD jumps back to the .7500 range resistance.
If you’d really rather short CAD against CHF, then you can also wait for a retest (and rejection) at mid-range levels and aim for a retest of the .7170 range support.
Watch this one closely, yo!
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