CADCHF Long Swing Trade Idea

FX:CADCHF   Canadian Dollar/Swiss Franc
Swing Trade Idea for CADCHF Long.

Chart pattern observed: Inverted Head and Shoulders . Saw it like in a second. Now the Left Shoulder and Head has been formed, now for the Right Shoulder to be formed. This is a slow moving pair but pays out well. This will take a very long time to play out. But patience pays. Price is pushing from demand on the weekly.

From the trendline , we see price has touched 5 times so we should expect a break soon but be prepared if it doesn't.

This is the weekly chart and resistance had seen 5 touches by price.

Normally, when trading any SHS pattern, you wait for the break of the neckline and retest then you enter the trade. But price is at a good spot to open a position and wait for months.

Apply proper risk management if you wish to take the trade. This trade will pay!

If you haven't tried a swing trade before, try it and test your patience. You are looking at a risk:reward of 1:8.

And once TP is hit, price should fall very quickly because this would be a big weekly supply zone . And how we know it is strong is because of how many times it has fallen from that level above!!

Trade active: Trade is up 10 pips, may hit stop loss but we will finish this week strong
Comment: That surge on Friday gave us a nice end to this week for CADCHF,

We are up 80 pips right now. Put SL 20 pips in profit on market open and hold.

This will be a long one.

Enjoy the weekend!
Comment: We have gotten 10 more pips today to make it to 90 pips!

Keep holding, we are swinging this long term!!
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