fx_shifter

CADCHF LONG TRADE IDEA

Long
OANDA:CADCHF   CAD/CHF
Hello everyone, if you like the idea, do not forget to support with a like and follow.

We do have a W pattern formation on the Weekly. We are looking into a neckline retracement before the move to the upside.

We can see on the COT - Commitment of Traders, which is what Hedge funds and the non commercials so the biggest in the market are doing. Where we can see that CHF's net positions have been decreasing, where we went from having positive 9,678 net positions to down to minus -17,584 we can see that in CHF is weak, but CAD on the other hand is getting short term stronger so we can expect a long position due to longs being added.

Trade Signals

BUY
Entry: 0.73115
Take Profit: 0.75805
Stop Loss: 0.72551

Good luck!

All Strategies Are Good; If Managed Properly!
~FX_SHIFTER