Hello, I am Forex Trader Andrea Russo and today I want to share with you a short trade on CAD/CNH.
In the world of Forex, every open position tells a story of analysis and strategic choices. This time I decided to focus on a short position on the CAD/CNH currency pair, with a particular focus on risk management and achieving the objectives set.
Trade details:
Entry Price (Entry Point): 5.09402
Stop Loss (SL): 5.10417
Take Profit (TP): 5.06362
Being a short position, my goal is to capture a potential decline in the Canadian dollar against the Chinese yuan. I set a Stop Loss at 5.10417 to limit any losses and a Take Profit at 5.06362 to ensure a profitable exit if the market moves as expected.
Why CAD/CNH?
This currency pair offers an interesting dynamic related to macroeconomic factors from Canada and China, including export data, monetary policies and global market movements. Technical analysis highlights patterns that justify a potential downtrend, ideal for a short position.
Conclusion
Forex trading requires discipline and patience, but every trade is an opportunity for growth and learning. I will continue to monitor the market and update you on the evolution of this position. Don't forget: risk management is always the priority!
Trade closed: target reached
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.