AmplaFX

CADCHF, Long, RR 1:5

Long
FX:CADCHF   Canadian Dollar/Swiss Franc
Good morning ladies and gents ,

Price has retraced back into a Daily Propulsion Block. On the H4 Chart, price has dropped back in an area we label "Source".

As per our system at AmplaFX, the H1 and M15 rules are fulfilled so we have found a long position available at current market price. Looking to take it up to refill the H4 imbalance for an RR of 1:5.

I anticipate price to trade through and beyond this level challenging old highs.

However, a short term swing position is avaiilable here for a 1:5 RR based trade.

Seasonal tedency indicates CAD strength and CHF weakness which adds further support to this trade idea.

I wish you all good luck and good trading.

Trade active: Entry available at 0.74274 with a stop below the M15 lows.

Target: 0.74200
Comment: Stop moved to Breakeven. Partial profits claimed. Let's see how price delivers.
Comment: Stopped out at Breakeven. Claimed some partial profits on the initial impulse move to the upside.

Small gain on this one.
Trade active: Pending Order @ 0.73330. Stop below low of the day (0.73245)

I'll update on TP if that pending order is activated.
Comment: Pinned our order, 0 pips drawdown. Running at 1:8 right now.

TP 1: 0.73900

TP 2: 0.74660
Comment: Stop moved to breakeven. Anticipating a pullback to a mitigation/rejection block prior to a continued expansion to the upside.

Comments

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