CADCHF Bearish Opportunity with reasons
Updated
We are going bearish in CADCHF for the following reasonable points.
All the above points confirm each others' which enabled us to go short
SIGNAL
Sell Stop @0.7530
SL 0.7555
TP 0.7480
My each risk is 2% of my account.
My lot size for this trade 0.10
Risking pips 25
Rewarding Pips 50
patience is necessary.
- [1] The daily Time Frame remained between 0.7393 - 0.7587 area since 10th January 2019. It now passed half year that the price is unable to break and move up/down below this channel.
- [2] Previous Week High is another factor where the price formed an inside bar on H4 TF.
- [3] A trendy channel on H4 is also a solid point where the price is retracing from up and down.
- [3] The Fibonacci Level on Daily TF at the last swing suggest that the price is making an inside bar on H4 time frame at 50% Fibonacci retracement.
All the above points confirm each others' which enabled us to go short
SIGNAL
Sell Stop @0.7530
SL 0.7555
TP 0.7480
My each risk is 2% of my account.
My lot size for this trade 0.10
Risking pips 25
Rewarding Pips 50
patience is necessary.
Trade active
Trade closed: stop reached
Stop reached... I again took sell position... unfortunately didn't got enough time for analysis....
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