π CADCHF has recently bounced from a significant horizontal support level observed on both the 4-hour and daily timeframes.
π We anticipate a re-test of key support levels as indicated on the chart.
π Our decision to enter this trade is grounded in technical analysis and candlestick patterns.
π These trades are long-term in nature; therefore, it's recommended to maintain sufficient margin to navigate market fluctuations. Employ effective risk management strategies based on your account size.
π Trading Rules:
1οΈβ£ Rule 1: Once the market reaches Target 1, consider closing some trades or moving your STOP LOSS to the ENTRY price (break-even) for a secure trading experience.
2οΈβ£ Rule 2: After reaching Target 1, refrain from initiating new trades based on the same signal/alert.
3οΈβ£ Rule 3: If the market consolidates for more than 2 days, close the trade and patiently await the next promising opportunity or trade signal/alert.
πβ¨ Happy Trading! π #MarketAnalysis #ForexTrading #RiskManagement