This week's favorite pair.. CADCHF (Long)
I like this trade because..
- Swap Positive (+ve)
- Steep dip from previous week
- Easy to draw Fib Retracement
- Plenty of Trend Line to break
I believe in the next 1-2 weeks price would go back up as high as 0.8344 before rushing down again. I am not a position trader so what ever I get in a week is good enough anything more than 2 weeks.. stay away from this pair as there are likely hood that this pair will fall.
Also start your trade with a small position, it is likely that it will drop lower before rising as Monday is a bank holiday for CAD.
I'll leave you with that thought.. happy trading.
-DC
The pair have make 2 tries up to target.. From experience it will go down before going all the way up. Take your profit get in later.. or take 80% of your profit and let the others ride. Enter again if it comes lower than initial entry, else move on to the next pair. *cheers
ReplyDeleteAs expected.. it dip lower. The news really did a number on it. Wait till price action stable down and then buy this position up..
ReplyDeleteNice trade. Has been been bull for the past few days. (since 8/8/2014) . :)
ReplyDeleteCurrent price is 0.83132
The recent dip on 8 aug would scare many. It only play out half-way of what I planned. If you haven't exit. exit now (0.8305). There will be a bottom swing before I see it reach the target I have drawn last week. Happy Trading.. -DC
DeleteTook 3 weeks but eventually it hit full target... hope some of you made money.
ReplyDelete