Canadian Dollar/Swiss Franc

CADCHF, daily tf, sell on break of ascending support

59
Hello my friends,

I hope you all enjoyed weekend. I just checked some pairs for September trading plan and this pair looks very interesting to me.
This pair not yet filtered by my screener but i think it will soon come to my sell position screener.

What i am waiting for now, is a confirmation that price break below the ascending support line with a solid candle close. The moment that parabolic SAR indicator switch from below to above the price, it will fully confirm to take sell positions. Notice also there is a possibility bearish divergence forming on stochastic.

I posted this in advance to let my fellow friends know it before hand so we will take sell position together when it confirmed. As long as price holding above the support then we will not take sell position yet. Only sell when we got our confirmation.

The trade will look like this when it is active

Sell CADCHF @0.6870
Stop loss @0.6955
Take profit 1 @0.6765
Take profit 2 @0.6670

RR ratio is 1 : 2,35
Use only 1-2% risk
Good luck

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