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CADCHF

TAKE THAT NEXT TRADEHi Friends, This post is for Educational Purpose only!! Time Frames : 5 mins, 10 mins, 15 mins Instruments : All Forex and Crypto Pairs Market Session : All Sessions Strategy Considered : Price Action Shift (PAS) TAKE THAT NEXT TRADE From my personal research i have seen that for a trending market, break of structure or shift in price action often leads to a big price movement moments later. Before i go into a trade, i normally ask myself a couple of questions; 1. How much is my balance? 2. How much do i want to risk? 3. Does the setup have a high winning probability? 4. Am i following my checklist? if yes, have i checked at least 4/6 of the items on the list? 5. What are my exit plans if i should take the trade? If i am able to respond to Q3-Q5, then i will not miss that trades. PAS Strategy Explained - Citing CADCHF (15m) Price did not break first swing low, attempted to break the second one but failed. It eventually broke the third swing low then headed back to retest the order block that pushed price to that break. It makes sense to go in right at this point since 6/6 of my checklist have been ticked + Q3,Q4,& Q5 response is yes. PAS Strategy give investors/ traders the opportunity to expose their capitals to low risks but highly profitable trade (in this case RRR of 1:8). Take some time off to look at my checklist and the confluences which i have listed on the chart. DO NOT FORGET TO LIKE, COMMENT AND FOLLOW ME.
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by Kingsley_lotanna
3
CADCHF Sell set upAs we can see market has came up with a nice strong bullish until march 31 , after that we are in a correction waves that I think wave A has finished with a very complete details in all of its 5 waves , so wave a has done its work on April 20. from April 20 so far in my opinion wave B is competing or may already completed as a triangle which I have counted it as a-b-c-d-e. so I'm willing to see wave C to start and as soon the price breaks the triangle in 4H time frame wave see would start and I expected to have a good profitable short In CADCHF. Hope its helps,
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by truthfulSeafow88078
THE BEAUTIFUL RELATIONSHIP BETWEEN CHART PATTERNSBefore I get into this it is important that you know the points A and B are not valid wave tags but are only on the chart for illustrative purposes. When I first got into the markets, I found myself sticking to a bias based on any first sign or pattern I found on the chart. The beginning of my forex journey is a story full of losses and blowing of accounts. But that is a story for another day. As time went on I observed and realized that the market is dynamic and hence different patterns develop as time proceeds and most time these patterns interact with each other. Since this revelation, I've been able to effectively know when to exit a trade and when it's safe to hold a position until it hits my target. Citing an example above with the CADCHF. I took a short trade from point A about two weeks ago following the rejection of the upper weekly trendline and a break of a lower timeframe ascending channel. Riding to point B I realized I was approaching an area which has previously served as support and is in confluence with a lower daily trendline yet to be confirmed . But I decided to hold on bearing in mind that there was a possibility to break those barriers at the time. As you can see price bounced from Point B and naturally one would panic and dump their position, but not if you know your stuff. Instead of leaving I moved my stop loss right above the suppl zone as you can see on the chart because a break above that would indicate a move to the upside. Observe how price rejected that level and formed a right shoulder right at the supply zone showing that the market wants to move lower. This is how I effectively manage all my position- constant analysis to check for confirmation and invalidation levels. This is how every trader should treat their positions...with care and attention :) Hope you all take something out of this.
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by dtonysav
CADCHF – Buyers might continue trendingCADCHF – Buyers might continue trending Trend: Buy/Neutral Support/Resistance: R3: 0.76779 R2: 0.76566 R1: 0.76330 S1: 0.76126 S2: 0.75823 Price action: Buyers marked first higher high at 0.76330 level in trending flow. Continuation and their focus on other targets will be if sellers will not show much power and if buyers are able to hold above 0.76330 Potencial trade idea: Bulls targets: T1: 0.76330 T2: 0.76566 T3: 0.76779 NOTE – We are trading CADCHF via the preferred trading setups by EliteFxAcademy
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by MP4