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You missed one trend line, the UP trend line
Maximize wins, minimize loss, stay in the game as long as you can
Counter-Trend Entry Return This Week:
-0.3%
- Joined Jul 2011 | Status: Member | 7,095 Posts
You missed one trend line, the UP trend line
- Joined Jul 2011 | Status: Member | 7,095 Posts
Made the last post just to see what people are trading
Could be a big risk off Friday, hope so, there is room below!
Could be a big risk off Friday, hope so, there is room below!
Maximize wins, minimize loss, stay in the game as long as you can
Counter-Trend Entry Return This Week:
-0.3%
- Joined Jun 2011 | Status: Swing trader using Market Cycles | 2,147 Posts
Money moves the market, not an indicator.
- Joined Jun 2011 | Status: Swing trader using Market Cycles | 2,147 Posts
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Update: trade successful
Money moves the market, not an indicator.
CAD may pullback to upside, I bought CAD/CHF instead of selling USD/CAD. I have mentioned in my analysis in a post in USD/CAD thread as to why I considered buying CAD and why I bought it against USD. Therefore, I am not uploading those images here and keeping this post short.
Not a very exciting pair but caught my eyes since, for whatever reason... I see a nice weekly move UP.. May actually not reach the target of 0.75400 (somewhere there) on Oct. 11th because I am seeing on the monthly charts, as of November through end of 2019, a considerable move down. Should prepare some cash to sell this pair through Christmas...
Sell CAD/CHF | Nov 12, 2019
Having seen scenario of CAD and CHF in previous analyses, selling CAD and buying CHF makes a perfect trade. Therefore, we are selling CAD/CHF.
Here is what I see on CAD/CHF:
We can set SL above right shoulder and can target either FIB50.0 (minimum target, it fulfills R:R::1:1) or ABCD100 .
There is no upcoming significant schedules even/data from Canada or Switzerland this week. I am not expecting BOC's Poloz to be hawkish on Thu.
Therefore, the price may go to ABCD100.0 in style of Newton's first law of motion. My 1st trade law of motion: price may remain at rest (sideways move in tight range) on in uniform motion (trending in a direction) unless an external force is applied. Technical levels and economic data/events work as external force.
If no external force applied, the fall may exceed to FIB61.8 that makes supprt cluster with ABCD100 or even to classical target of Head & Shoulder that coincides with FIB78.6.
Having seen scenario of CAD and CHF in previous analyses, selling CAD and buying CHF makes a perfect trade. Therefore, we are selling CAD/CHF.
Here is what I see on CAD/CHF:
We can set SL above right shoulder and can target either FIB50.0 (minimum target, it fulfills R:R::1:1) or ABCD100 .
There is no upcoming significant schedules even/data from Canada or Switzerland this week. I am not expecting BOC's Poloz to be hawkish on Thu.
Therefore, the price may go to ABCD100.0 in style of Newton's first law of motion. My 1st trade law of motion: price may remain at rest (sideways move in tight range) on in uniform motion (trending in a direction) unless an external force is applied. Technical levels and economic data/events work as external force.
If no external force applied, the fall may exceed to FIB61.8 that makes supprt cluster with ABCD100 or even to classical target of Head & Shoulder that coincides with FIB78.6.
