A buy on CADCHF before the big sell at 0.77

Canadian Dollar/Swiss FrancFXCM

Description

⋅ May 22, 2016 4:00 AM

I see a bullish bat pattern forming around 0.7525 which complements the big pattern to short at 0.7700.

A few weeks back we shorted at 0.7700 and now there is a type 2 test of this level.

It is also nice to see another H4 Gartley coming around the same level.

Trade active

⋅ May 23, 2016 2:00 PM

Trade triggered about 1 hour ago.

Trade closed manually

⋅ May 23, 2016 11:33 PM

Took 5 pips off this trade. Looking for a 2nd entry now.

Trade active

⋅ May 24, 2016 1:04 AM

Went in for the 2nd time. Stops below 0.75 (30 pips) and targeting 60 pips.

Trade active

⋅ May 24, 2016 11:43 PM

Switched to Breakeven. Running with 35 pips profit and will update when I take profit.

Comment

⋅ May 26, 2016 8:25 AM

This trade is running with 125 pips now. The target is still 0.77

Comments

marcus1983

⋅ May 24, 2016 4:31 AM

Missed your queue. I shall not follow this long trade, let price action trigger the short trade.. don't wish to chase after the market and ended wrong entry price.

marcus1983

⋅ May 23, 2016 11:55 PM

Just to share, moving average is quite strong in favour of bear