Example.
On M5 the CAD had a sharp turnaround and the EUR and CHF are going down with an increasing momentum.
On M15 the CAD has room to go further up and the EUR and CHF are flatting so could predict a turnaround.
on H4 (logical this should be H1 and not H4) the EUR is flattening out and already in oversold area the CHF isn't there yet.
You do have to think about the CAD because on H4 (bad example for M5 trades) is already in oversold area.
(I must apologize for the error on the H4 because the up arrow right of the CAD button shoul be orange due to the oversold condition, will fix that).
So a potentional trade would be long CADCHF and in lesser extend short EURCAD.
See attached images.
Best way is to look for crosses around the 50 area (40/60) because both currencies have room to move.
80/20 is overbought/oversold, 70/30 is slightly overbought/oversold.
On M5 the CAD had a sharp turnaround and the EUR and CHF are going down with an increasing momentum.
On M15 the CAD has room to go further up and the EUR and CHF are flatting so could predict a turnaround.
on H4 (logical this should be H1 and not H4) the EUR is flattening out and already in oversold area the CHF isn't there yet.
You do have to think about the CAD because on H4 (bad example for M5 trades) is already in oversold area.
(I must apologize for the error on the H4 because the up arrow right of the CAD button shoul be orange due to the oversold condition, will fix that).
So a potentional trade would be long CADCHF and in lesser extend short EURCAD.
See attached images.
Best way is to look for crosses around the 50 area (40/60) because both currencies have room to move.
80/20 is overbought/oversold, 70/30 is slightly overbought/oversold.
info@metacharttools,com