FX:CADCHF   Canadian Dollar/Swiss Franc
CADCHF bounced from a major support level on the 4 hour time frame, and also bounced from the upper trend line of a bearish channel on the daily timeframe chart

CAD to be volatile during BoC interest rate decision today (25/10/2023)

We expect the pair to re-test the key support levels listed on the chart,

We taking this trade based on technical analysis and candlestick patterns.

Please use proper risk management depending on your account size, Use lot sizes based on these calculations.

Here is a breakdown of your pip value in ZAR and Dollars

0, 01 = $0,10c
0. 05 = $0.50
0.10 = $1.00

How to calculate Margin = (Lot Size * Contract Size)/Leverage, Let's say your broker gives you 1:500, and you open 0,2 size, How much are you exposing? calculations : (0.2 * 10 000) / 500 = $4 (R58) also (1 Lot * 100 000) / 500 = $200 (R2 960)

So, each time I open (1 Lot size, am exposing R2960 (Down payment)

Remember, These are long-term trades, It is advisable to have enough margin to handle the fluctuation of the markets.

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Trade closed: target reached:
Update: This trade was meant to be Long (Buy) There was an error (Short/Sell)

70 Pips reached


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