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This market is giving us a great opportunity! I suggest you to have a quick look on the CADCHF Daily Chart to understand with a different perspective the reasons of this market's movement.
You could check it out clicking the link here below:
Let's focus on the area that interests us:
As we can see, since many days ago the price has been following a strong descending channel, bouncing many times on the dynamic S/R level of this channel.
The price just broke the channel and it's probably going to get a short correction.
ONLY IF THE PRICE will bounce on the support level, confirming the end of the descending channel and the beginning of a new trend, then you might consider the following trade details:
ENTRY POINT: 0.69766
TAKE PROFIT: 0.70456
STOP LOSS: 0.69390
RISK/REWARD RATIO: 1.70
Stay tuned for updates!
What's your opinion? Share your idea writing a comment!
Trade Safe and Responsibly
Gianni
This market is giving us a great opportunity! I suggest you to have a quick look on the CADCHF Daily Chart to understand with a different perspective the reasons of this market's movement.
You could check it out clicking the link here below:
Let's focus on the area that interests us:
As we can see, since many days ago the price has been following a strong descending channel, bouncing many times on the dynamic S/R level of this channel.
The price just broke the channel and it's probably going to get a short correction.
ONLY IF THE PRICE will bounce on the support level, confirming the end of the descending channel and the beginning of a new trend, then you might consider the following trade details:
ENTRY POINT: 0.69766
TAKE PROFIT: 0.70456
STOP LOSS: 0.69390
RISK/REWARD RATIO: 1.70
Stay tuned for updates!
What's your opinion? Share your idea writing a comment!
Trade Safe and Responsibly
Gianni
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