Technician
Short

CADCHF: Shorting At Potential Reversal Zone!

FX:CADCHF   Canadian Dollar/Swiss Franc
1194 11 22
Update: 1st Target reached without triggering entry... Trade cancelled.
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-A harmonic Gartley on the daily chart with an ideal ABCD pattern
-Multiple Pin Bars at the potential reversal zone of the pattern
-Triple top on the four-hour chart
-Bearish divergence on the four-hour chart

Lets see how this one goes mates, Trade Safe, and Best of Luck ,
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My best regards,
Technician

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Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
Notes:
1) If 90 percent of first target is reached I move stop loss to breakeven.
2) If 90 percent of first target is reached without triggering entry I cancel the trade.
3) Remember: Losing is a main part of the game
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Can I ask why don't you rather buy EURCAD if you have this view? I mean EURCHF has a floor at 1,2000 which is unlikely to be released any time soon. This way CHF appreciation is limited a bit.
Reply
Technician TOP Kumowizard
2 years ago
The limit is only effective against the euro, i dont do it on the eurcad cause the fundamentals of the euro looks negative , and bad economic data is expected anytime.
Reply
Nice analysis....Do you see these Gartley patterns before you plot the lines? like is it just something you naturally see now as an experienced trader?
Reply
Technician TOP CryptoFactor
2 years ago
The Gartley pattern is not important per se, but when other technicals confirm the trade it becomes more important in my view.
+2 Reply
Great. Posted earlier a similar idea.
#CADCHF Bearish move confirmed
+3 Reply
Technician TOP HamedAghajani
2 years ago
Great, lets hope it works for us :)
+1 Reply
thanks for this post
Reply
Elogos
2 years ago
1st target reached without entry.
Reply
Update: 1st Target reached without triggering entry... Trade cancelled.
Reply
Timing is key Technician
2 years ago
Great call none the less!, Pin Bars @ 0.786 with Pattern, No pullback on this one:(, no choice but to cancel....Interested to know if you have a method to determine the level of your pullback for entry, % of previous candle, Set Pip value based on R/R?
Thanks
TIK
+1 Reply
I think there is still a loss
Reply
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