Chart: 4-hour CADCHF
Setup: Supply-zone rejection into downtrend continuation
🔍 Analysis
Trend: Clearly lower highs & lower lows since late March.
Supply Zone: 0.6180–0.6200 — price has stalled here twice and printed bearish wicks.
Fibonacci Confluence: Entry sits at the 61.8% retracement of March–April swing down.
Structural Support: Next major support cluster around 0.5850 (your TP), then 0.5800.
📈 Trade Details
Entry: 0.61810
Stop-Loss: 0.62217 (just above supply zone)
Take-Profit: 0.58349 (below April swing low)
Risk: 40.7 pips
Reward: 346.1 pips
R:R: ~8.5 : 1
🛠️ Execution & Management
Wait for a clear bearish candle close (engulfing, pin-bar) at 0.6180–0.6200 before entry.
After +50 pips, move stop to breakeven to eliminate risk.
Consider scaling out 50% at 0.5950 (swing-to-swing) and let the rest run to 0.5835.
Monitor CAD catalysts (BoC, oil PMI) for sudden volatility spikes.
dont forget leave comment
Setup: Supply-zone rejection into downtrend continuation
🔍 Analysis
Trend: Clearly lower highs & lower lows since late March.
Supply Zone: 0.6180–0.6200 — price has stalled here twice and printed bearish wicks.
Fibonacci Confluence: Entry sits at the 61.8% retracement of March–April swing down.
Structural Support: Next major support cluster around 0.5850 (your TP), then 0.5800.
📈 Trade Details
Entry: 0.61810
Stop-Loss: 0.62217 (just above supply zone)
Take-Profit: 0.58349 (below April swing low)
Risk: 40.7 pips
Reward: 346.1 pips
R:R: ~8.5 : 1
🛠️ Execution & Management
Wait for a clear bearish candle close (engulfing, pin-bar) at 0.6180–0.6200 before entry.
After +50 pips, move stop to breakeven to eliminate risk.
Consider scaling out 50% at 0.5950 (swing-to-swing) and let the rest run to 0.5835.
Monitor CAD catalysts (BoC, oil PMI) for sudden volatility spikes.
dont forget leave comment
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.