🔍 CADCHF has recently bounced from a significant horizontal support level observed on both the 4-hour and daily timeframes.
📊 We anticipate a re-test of key support levels as indicated on the chart.
📉 Our decision to enter this trade is grounded in technical analysis and candlestick patterns.
🔄 These trades are long-term in nature; therefore, it's recommended to maintain sufficient margin to navigate market fluctuations. Employ effective risk management strategies based on your account size.
📌 Trading Rules:
1️⃣ Rule 1: Once the market reaches Target 1, consider closing some trades or moving your STOP LOSS to the ENTRY price (break-even) for a secure trading experience.
2️⃣ Rule 2: After reaching Target 1, refrain from initiating new trades based on the same signal/alert.
3️⃣ Rule 3: If the market consolidates for more than 2 days, close the trade and patiently await the next promising opportunity or trade signal/alert.
📊✨ Happy Trading! 🚀 #MarketAnalysis #ForexTrading #RiskManagement
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.