Chfcad
CHFCAD: Short Growth TargetWithin the next few days, I expect the swiss franc over the Canadian dollar to reach a 1.363 price target. This is due because some positive correlations to strong buys as well as continued volatility over positive correlations in price. Also the Canadian dollar recently started getting slightly weaker along with the US Dollar, hence leading into further correlations or slight fluctuations in price.
CHFCAD Bearish BatSo, obviously this is quite ahead of itself but like I have said before I LOVE posting charts this far ahead. Why you ask? Well it is really simple, if a chart isn't to the c point yet and it ends up playing out to D I will enter that trade with more confidence as well as being prepared. I am not saying this will definitely happen but if it does I believe it is just a stronger set up.
CHFCAD: Risk off long ideaWe have a nice setup in this pair (which you can trade shorting CADCHF as well).
CHFCAD is at the bottom of the trading range here and is likely to return to the yearly moving average above.
I'll be entering longs, after today's daily close, if we break the daily high. Stop loss has to be under today's low plus 1 tick to be safe. Risk 0.5-1% on this position and let it ride, it has excellent potential.
Good luck,
Ivan Labrie.