Opportunity: CADCHF Sells
I see a bearish reversal @ Area 0.66600
The reasons for that are that its a major turn level, visible range hvn, Choch area and a Fibo Golden zone. I will enter with a tight SL because this pair can always break upwards.
The bullish reversal area(Final take profit area) is a major turn level and a weekly Choch area. It is also a pattern target and a liquidity zone.
The trade idea is:
Sell stop @ 0.66600
SL@ 0.66900 (tight-30 pips)
Tp1@ 0.65600
Tp2@ 0.65000 (160 pips)
Remember if SL is hit, and the pair gets back into the entry zone, enter again but with another tight stop loss. Infact, I would set a sell stop at the same area if the SL gets hit and then I still see the bearish move happening.
Goodluck!
The reasons for that are that its a major turn level, visible range hvn, Choch area and a Fibo Golden zone. I will enter with a tight SL because this pair can always break upwards.
The bullish reversal area(Final take profit area) is a major turn level and a weekly Choch area. It is also a pattern target and a liquidity zone.
The trade idea is:
Sell stop @ 0.66600
SL@ 0.66900 (tight-30 pips)
Tp1@ 0.65600
Tp2@ 0.65000 (160 pips)
Remember if SL is hit, and the pair gets back into the entry zone, enter again but with another tight stop loss. Infact, I would set a sell stop at the same area if the SL gets hit and then I still see the bearish move happening.
Goodluck!
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