Here we can see that CADCHF
is in a clear H4 support zone
. Trades can always be found at H4 support/resistance
zones providing you use price action. As we can see price recently pushed down to 0.69020 but buying pressure caused the price to close within the support zone
. This was then followed by a bullish
candle. We need more confirmation here that price will bounce off this support so we will wait to see if the price will close above the trend line
(orange line) drawn on the chart. If price closes above the trendline a BUY order can be placed with a stop loss at 0.69000. If this set up occurs I am placing a 1:1 risk-reward ratio. YES, you can place trades with a 1:1 risk-reward ratio providing you only risk 1% of your account per trade. Follow me for my notifications! Have a good weekend!