CADCHF – 5th Week of March
by Financial Veracity · March 25, 2018
Daily Chart – Short-term price action indicates the possibility for a bearish trend continuation in the coming week. In the previous week, the market had failed to break previous structure high with a “Hamari” closing candlestick which leads to the sell-off. The market still holds a strong bullish trend probability over in the weekly and monthly timeframe. The idea of this trade is to seek for lower risking positions with a stronger short-term trend continuation characteristic. Additionally, the market is now trading in a key price level (highlighted in magenta).
4 Hour Chart – As you can see that the market is still holding a bullish trend characteristic but with a channel that is about broken. I’ll be ideally looking to short this market pair on a smaller time frame as the price distance is really small for a favorable RR ratio.
1 Hour Chart – If you can spot it, there was an earlier opportunity before the Friday’s close wit market failing to break the previous high. Ideally, I’ll be waiting for an opportunity similar to this that will give me an RR ratio of 1 : 4.86. Highly suggestible for you all to be waiting for market exhaustions (favorable risk ratio) than to enter purely based on your “predictive instinct” that market would reach “there”. RR ratio when utilized will expedite the growth of your account.