ENTER LONG: CADCHF @ 0.6902
Looking at the weekly chart, The RSI has crossed back up, and there is bullish engulfing on the previous candle.
On the 4 hour chart, the RSI is almost at 30...this shows me that there is very little more leg to the downside, so I have drawn a more inside trend line......
As a result, I have entered a long trade with a stop loss of 300 pips.....and a potential profit of 200 pips ( note ...I don't follow the risk/reward ration norm....infact I do the opposite)
I will be holding this trade for a few weeks
Trade at your own risk
enjoy.
Looking at the weekly chart, The RSI has crossed back up, and there is bullish engulfing on the previous candle.
On the 4 hour chart, the RSI is almost at 30...this shows me that there is very little more leg to the downside, so I have drawn a more inside trend line......
As a result, I have entered a long trade with a stop loss of 300 pips.....and a potential profit of 200 pips ( note ...I don't follow the risk/reward ration norm....infact I do the opposite)
I will be holding this trade for a few weeks
Trade at your own risk
enjoy.
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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.