CADCHF - LONG TERM CONTINUATION - SHORT TRADE
CADCHF Multi timeframe analysis.
This is a short trade taking the WEEKLY downtrend/RANGE as my bias using the Daily all the way down to the One Minute to pinpoint my entry.
1. Weekly Downtrend Continuation
2. Price at the ABCD Pattern with perfect ratios
3. Price has spiked out of every ADR channel at the high from the Daily - One Minute
4. A VSA entry on any timeframe is triggered at either a Weekly Pivot OR has spiked through a Weekly Pivot and pulled back closing below it in this case
5. Enter Trade
T1. Target 1 is the closest Weekly Pivot to a 38.2 retracement of the pattern setup (Will be adjusted if the trade is carried across weeks)
T2. Target 2 is price spiking below the highest timeframes ADR channel, in this case, the Four Hour (Will be adjusted if the trade is carried across weeks)
T3. Target 3 is a spike below the Weekly ADR signaling a change in bias (Used more for trend position building VS expecting the price to reach it every trade)
This is a short trade taking the WEEKLY downtrend/RANGE as my bias using the Daily all the way down to the One Minute to pinpoint my entry.
1. Weekly Downtrend Continuation
2. Price at the ABCD Pattern with perfect ratios
3. Price has spiked out of every ADR channel at the high from the Daily - One Minute
4. A VSA entry on any timeframe is triggered at either a Weekly Pivot OR has spiked through a Weekly Pivot and pulled back closing below it in this case
5. Enter Trade
T1. Target 1 is the closest Weekly Pivot to a 38.2 retracement of the pattern setup (Will be adjusted if the trade is carried across weeks)
T2. Target 2 is price spiking below the highest timeframes ADR channel, in this case, the Four Hour (Will be adjusted if the trade is carried across weeks)
T3. Target 3 is a spike below the Weekly ADR signaling a change in bias (Used more for trend position building VS expecting the price to reach it every trade)
Comment:
A quick ride down to first targets, 45% of the position is closed.