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 :)
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