CADCHF Sell - Strong Resistance & Range-Bound
Hello traders! Today, I am sharing a strong trade idea for CADCHF that could potentially result in profits. The currency pair has been range-bound, with price rejecting four times, indicating a strong selling reason. Moreover, CADCHF is currently facing strong resistance.
My suggestion is to consider selling CADCHF from 0.69166, with a stop loss at 0.68552. The first target is at 0.68882, which could potentially result in a profit of approximately 28 pips. The second target is at 0.68666, which could yield a profit of approximately 51 pips.
As always, it is important to consider risk management strategies and remain vigilant, as unexpected events and news could impact the markets.
In conclusion, I believe that selling CADCHF using the strong resistance and range-bound analysis could be a profitable trade idea. Thank you for following my trade idea, and I wish you all the best in your trading journey. Happy Trading!
Disclaimer: This trade idea is for educational and informational purposes only. Trading in the financial markets involves risk, and past performance is not necessarily indicative of future results. Before placing any trades, you should carefully consider your financial situation, risk tolerance, and trading experience. Please be aware that trading in the foreign exchange market, particularly with leveraged instruments such as CFDs, involves significant risks and may not be suitable for all investors. The author shall not be liable for any losses incurred as a result of using this trade idea. Traders should always trade at their own risk and responsibility.
My suggestion is to consider selling CADCHF from 0.69166, with a stop loss at 0.68552. The first target is at 0.68882, which could potentially result in a profit of approximately 28 pips. The second target is at 0.68666, which could yield a profit of approximately 51 pips.
As always, it is important to consider risk management strategies and remain vigilant, as unexpected events and news could impact the markets.
In conclusion, I believe that selling CADCHF using the strong resistance and range-bound analysis could be a profitable trade idea. Thank you for following my trade idea, and I wish you all the best in your trading journey. Happy Trading!
Disclaimer: This trade idea is for educational and informational purposes only. Trading in the financial markets involves risk, and past performance is not necessarily indicative of future results. Before placing any trades, you should carefully consider your financial situation, risk tolerance, and trading experience. Please be aware that trading in the foreign exchange market, particularly with leveraged instruments such as CFDs, involves significant risks and may not be suitable for all investors. The author shall not be liable for any losses incurred as a result of using this trade idea. Traders should always trade at their own risk and responsibility.
Trade closed: target reached:
Hello Investors,
We have reached the TP1 If you traded with 0.01 Lot size,#Congratulations to all of you to make a decent profit of 9$ in one go.
Please do follow us and give us a comment if you like the analysis.
Telegram: Search us with this name: Vish_Vin® ™
Admin contact on Telegram: @Vishwas_TA2
We have reached the TP1 If you traded with 0.01 Lot size,#Congratulations to all of you to make a decent profit of 9$ in one go.
Please do follow us and give us a comment if you like the analysis.
Telegram: Search us with this name: Vish_Vin® ™
Admin contact on Telegram: @Vishwas_TA2
