Technician
Long

(J) Trade 9: Bullish Three Drives #Forex

FX:CADCHF   Canadian Dollar/Swiss Franc
3414 27 118
Update: Target Reached without entry Trade Cancelled.
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Trade 9: Pending Long CADCHF             @0.7465
S.L @ 0.7420
T1 0.7520
T2 0.7585

For $29,798.94 Balance, Position size = 1.1 lot


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Reasoning

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On 1H chart its creating a down flag.. if it breaks that flag then it can fall down to 0.7430..then I think it would be a good buying opportunity.... Its Just my view
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Nice trade set up.Thanks Technician.
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Nice trade set up! looking forward, Good luck!
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Thanks Technician.
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Hi tech,
I rarely trade this pair but heres my take.

on W1, price is bouncing off of the 50% (barely). there was a doji pin 3 weeks back but last week closed a solid down bar. A bounce it is, but slowly edging towards the downside.
snapshot


on D1, analyzing the bounce off the 50%, it is currently 78.6% of that bounce. the dailys did close to look like a slightly bearish pin bar but thats just the news spike causing the bar to look like that.
snapshot


All in all, stops below 100% D1, 50% W1, all is fine. Counter trend trade.
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Technician TOP PriceActionTrading
Thanks mate, yep its a counter trend setup within the context of the recent range.
+2 Reply
Yea tech. the RR is very optimal right now for those in the trade. Nice pick you have. Just the uncertain risk of countertrend trading.
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Technician TOP PriceActionTrading
Yes, true, risk is always there... Need some luck on this one, had a streak of good forecasts but without getting triggered.
+2 Reply
Thanks Jordan. Seem like a good trade
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Sweet! A quick 25 pips of profit for me! Thank you sir.
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Technician TOP SandroTurriate
hehe, great
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Whats going on :|
+2 Reply
TahirAli Technician
I am thinking on the same lines too.
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kitnik Technician
Stick to your guns, man. Great analysis, will play out well long term. Good luck with the next one.
And I'm thinking about small market orders on your predictions ;)
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FXMONA Technician
Price reach 90% of TP without triggering pending. So will we cancel the pending?
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catolica Technician
Bad luck :(
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Price reach 90% of TP without triggering pending. So will we cancel the pending?
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Is this trade dead since we got to more then 90% of T1.
+1 Reply
been looking at this as well i am with you
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Am long from 0.7473 so agree, although my first target was 0.7558 but close enough to say we are thinking the same thing, second target much higher at 0.7688 but might be a stretch...
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T1 reached trade cancelled.. Bad Lucky again
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