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tradelikeapro_fx
Feb 2, 2021 11:26 AM

CADCHF H4 - SHORT Short

Canadian Dollar/Swiss FrancFXCM

Description

CADCHF H4 - SHORT

Cypher pattern with D-completion at 0.786 fibonacci retracement of XC leg.

Look for selling opportunities within the D completion and resistance level for a SHORT opportunity. Otherwise, you can potentially place a SELL LIMIT ORDER @0.70363 for a sniper entry to catch a 1:2.5 trade towards the next support area.

Understand that this is a countertrend trade and the idea behind this is to capture 1:1 as soon as possible.

For those in USDCAD, you may be exposed to 2 CAD pairs therefore, manage your trade.
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