I'm positioned to catch a CADCHF bearish break downward via a Sell Stop order as shown since it broke out of it's bullish channel.
The pair does still have potential to move upward, if it does I'll be watching the 6-year old trend resistance (Red Line) to knock the pair back downward for an even larger short than the one shown.
Will update this published idea if this trade is entered or will publish a new chart for the positioning to short from the long term trend resistance depending on which way the pair goes.
R:R of current positioning: 4.64
The pair does still have potential to move upward, if it does I'll be watching the 6-year old trend resistance (Red Line) to knock the pair back downward for an even larger short than the one shown.
Will update this published idea if this trade is entered or will publish a new chart for the positioning to short from the long term trend resistance depending on which way the pair goes.
R:R of current positioning: 4.64
Trade active
Comment:
Moved SL to .74738 due to approaching EU Referendum vote. Will trail relatively tightly.
Trade closed manually:
In profit SL hit.