CADCHF short - 20 October 2016

FX:CADCHF   Canadian Dollar/Swiss Franc
27 0 2
- Key reversal bearish candle off the daily channel resistance

- Sell stop @ 0.7512

- Set at 50% of the key reversal candle @ 0.7578

- Just before the daily channel support at 0.735 area

- Only 1 bearish reversal candle, however based on previous action from the channel resistance, only 1 reversal candle to take it down. Hopefully is the same for this time:)
Comment: Update - 21 October 2016
- Furious price action, bear bull battle before CHF and CAD news release.
- Good sign that candle close at a lower low.
- To hold on to trade and see how it plays out
Comment: Update - 23 October 2016
- Strong bearish candle close below previous day low
- To hold on to trade and hopefully it will hit my TP
Trade active: Update - 25 October 2016
- Yesterday session closed a bullish reversal candle, which is more disturbing than my another CAD trade #CADJPY short - 20 October 2016
- Since this a reversal candle, so to reduce my exposure to CAD, i have move the SL of this trade to 0.7530 (15 pips above my entry - some breathing space above 0.75 round number resistance)
Trade active: Update - 26 October 2016:
- Phew.... a bearish reversal candle close lower into 25 October's hammer
- Seems like the market will continue to go south thanks to yesterday bearish close
- To hold on to trade and hopefully it will hit my TP within this week
Trade active: Update - 27 October 2016:
- Yesterday session closed a bearish candle and nearly validate the 25 October 2016 Bullish reversal candle
- After 4 trading days, the trade has reached 50% of its intended profit, with 60 pips potential to go.
- Nothing changes, to keep holding on to the trade, hopefully will reach my TP within this week
Trade active: Update - 28 October 2016:
- Yesterday candle closed a doji and an inside candle within the 26 October 2016 candle
- 90 pips in bag with 60 pips in the hunt
- This trade seems hopefully with mild stall at the 24 October 2016 candle low
- SL moved to entry point and keep hold on to the trade.
- Hopefully today can hit my TP...
Trade closed: target reached: Update - 29 October 2016:
- Hooray!!! Target hit finally after 7 trading days
- Yesterday candle close a bearish marubozu
- Currently the price approaching the daily horizontal support and channel support, maybe this might provide an opportunity for long? Lets leave this for next time :)
United States
United Kingdom
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out