CADCHF SELL/SHORTBy utilizing Fibonacci retracement levels, historical patterns, , we can formulate a hypothesis that the market might follow a similar trajectory if bearish sentiment prevails.
Cadchfideia
CADCHF - W1\D1CADCHF
W1 - The price may push off from the level, a potential rebound to the values of 0.68343; for a confident entry to these targets, it is better to wait for the level to be fixed at D1.
D1 - The price is behind the trend line, a 3-wave structure has been formed, the price has not reached level 161 and the 5th wave has been formed, which can give an impetus to the nearest goals, we can consider entering from the current levels.
What can you expect?
You can consider entering from the level of 0.64882 with further movement to the target 0.66276. Cancellation of the idea so as not to take increased risk on the idea levels beyond the end of the 1st wave on D1 - 0.64032
Locally - Long
Target 0.65067 - 0.65434 - 0.65765 - 0.66276
Long term - Long
Target 0.65428 - 0.66205 - 0.67295 - 0.68343
CAD/CHF SHORT CADCHF bounced from a major support level on the 4 hour time frame, and also bounced from the upper trend line of a bearish channel on the daily timeframe chart
CAD to be volatile during BoC interest rate decision today (25/10/2023)
We expect the pair to re-test the key support levels listed on the chart,
We taking this trade based on technical analysis and candlestick patterns.
Please use proper risk management depending on your account size, Use lot sizes based on these calculations.
Here is a breakdown of your pip value in ZAR and Dollars
0, 01 = $0,10c
0. 05 = $0.50
0.10 = $1.00
How to calculate Margin = (Lot Size * Contract Size)/Leverage, Let's say your broker gives you 1:500, and you open 0,2 size, How much are you exposing? calculations : (0.2 * 10 000) / 500 = $4 (R58) also (1 Lot * 100 000) / 500 = $200 (R2 960)
So, each time I open (1 Lot size, am exposing R2960 (Down payment)
Remember, These are long-term trades, It is advisable to have enough margin to handle the fluctuation of the markets.
Please like and share for more useful content:
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duration approximate 1 month
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+ Bullish Divergence
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