CADCHF INTRADAY BRAKOUT TRADE SETUP
Updated
Hi everyone:
Here is my view on CADCHF SHORT, Any type of feedback is greatly appreciated it. Thank you
Trade: #9
Date: 12/13/2016
Time: 02:00 GMT
Forex Pair/Commodity: CADCHF
Position: SHORT (SELL)
Reward/Risk: 3+:1
Opportunity:
Daily: After an over extended run to the top, price has Hit QUAD tops, a strong resistance zone, with a two low tests candles
1 Hour: Formed double tops, price then broke down the short term support trend line, then pulled back to main pivot, 20 EMA, and 0.382 fibs retracement, formed a mini-bearish flag pattern, massively MACD divergence
Looking to take this pair to daily 0.382 fibs retracement, 20 EMA, and strong horizontal support
and resistance line of 0.7600 area for more than 3:1 reward risk ratio.
Thank you for your support
Here is my view on CADCHF SHORT, Any type of feedback is greatly appreciated it. Thank you
Trade: #9
Date: 12/13/2016
Time: 02:00 GMT
Forex Pair/Commodity: CADCHF
Position: SHORT (SELL)
Reward/Risk: 3+:1
Opportunity:
Daily: After an over extended run to the top, price has Hit QUAD tops, a strong resistance zone, with a two low tests candles
1 Hour: Formed double tops, price then broke down the short term support trend line, then pulled back to main pivot, 20 EMA, and 0.382 fibs retracement, formed a mini-bearish flag pattern, massively MACD divergence
Looking to take this pair to daily 0.382 fibs retracement, 20 EMA, and strong horizontal support
and resistance line of 0.7600 area for more than 3:1 reward risk ratio.
Thank you for your support
Note
Here is the DAILY CHART:Note
Date: 12/14/2016 Time: 18:00 GMT
Price has already hit my 1% profit. Due to FOMC, move my stop loss to break even @ 0.7725.
Trade closed: target reached
Date: 12/16/2016Time: 06:00 GMT
After the FOMC interest rate hike, the currency pair has shown some bullish movement. manually close down the trade @0.7700, secure 1 % profit.
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