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SWISS FRANC / CANADIAN DOLLAR

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CHFCAD trade ideas

CADCHF Sell - Strong Resistance & Range-BoundHello 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.
Short
by VISH_VIN-Traders
2
Long On CADCHF Buy Entry On CADCHF As A Trader I Completely Believe On Sentence " TRADING IS SO SIMPLE (If We Stay Consistent & Discipline With Our Strategy) BUT NOT EASY (If We Start Breaking Our Trading Strategy Rule.)" "Below All Conditions Are Meet To Take Long Entry On CADCHF" (1) Entry Price - 0.68480 (2) Stop Loss - 0.68270 (3) Take Profit - 0.69088 TIMEFRAME - 1 HOUR Here I'm Going To Explain My Own Strategy Step By Step With The Help Of Word - "CEST - B" Where , "C" Stand For - CONDITION (1) RSI For Long Entry - I Want RSI(14) In Oversold Area(30Level). (2) RSI For Short Entry - I Want RSI(14) In Overbought Area(70Level). (3) Candlestick For Long Entry - Need Bullish Big Shadow candle When RSI Is In Oversold Area. (4) Candlestick For Short Entry - Need Bearish Big Shadow candle When RSI Is In Overbought Area. (5) We Need Regular Divergence If RSI Is Not In Overbought or Oversold Area When Big Shadow Candle stick Form. "E" Stand For - ENTRY (1) For Long - Opening Price Of Previous Candle Of Bullish Big Shadow. (2) For Short - Opening Price Of Previous Candle Of Bearish Big Shadow. "S" stand For - STOP LOSS (1) For Long - ATR(14) Of Bullish Big Shadow + Distance From Entry Price To Low Of Bullish Big Shadow + 2Pips Extra ( Spread). (2) For Short - ATR(14) Of Bearish Big Shadow + Distance From Entry Price To High Of Bearish Big Shadow + 2Pips Extra ( Spread). "T" Stand For - TAKE PROFIT Take Profit Will Be 2.9 Times Of Our Risk Which Means If Our Risk On Single Trade Is 3% Then Take Profit Will Be 8.7% . Risk - Reward Ratio - 1:3 "B" Stand For - BREAK-EVEN (1) For Long - If RSI(14) Reach To Overbought Area We Will Move Our Stop Loss To The Break-Even. (2)) For Short - If RSI(14) Reach To Oversold Area We Will Move Our Stop Loss To The Break-Even. NOTE - Consistency & Discipline Is A Key Element Of Success.
Long
by Roh_Gupta94