CADCHF a A2 Short Trade Setup
Hello Traders,
*The Fundamentals:
- GDP Growth: (CAD: -0.1% / CHF: 0.0%)
- Inflation: (CAD: 5.9% / CHF: 3.4%)
- Unemployment: (CAD: 5.0% / CHF: 2.1%)
- Interest Rates: (CAD: 4.50% / CHF: 1.0%)
The Fundamentals are slightly in the favor the CHF over the CAD with the unemployment and inflation numbers.
*Sentiment:
-COT Report: shows /42.0%%/ of the institutional Future open contracts are long on the CAD, while /40.4%/ are long on the CHF.
- Retail Sentiment: 91% of retail traders are Long.
- Now we see a /Risk Off/ sentiment in the with a market and a flight to safe heaven assets like Gold, JPY, USD and CHF.
Technical:
The Price is in a good and healthy downtrend with lower lows and lower highs, made a retracement to the /0.618/ fib zone which is a resistance level as well. This gives a good risk to reward ratio.
Trade Safe
*The Fundamentals:
- GDP Growth: (CAD: -0.1% / CHF: 0.0%)
- Inflation: (CAD: 5.9% / CHF: 3.4%)
- Unemployment: (CAD: 5.0% / CHF: 2.1%)
- Interest Rates: (CAD: 4.50% / CHF: 1.0%)
The Fundamentals are slightly in the favor the CHF over the CAD with the unemployment and inflation numbers.
*Sentiment:
-COT Report: shows /42.0%%/ of the institutional Future open contracts are long on the CAD, while /40.4%/ are long on the CHF.
- Retail Sentiment: 91% of retail traders are Long.
- Now we see a /Risk Off/ sentiment in the with a market and a flight to safe heaven assets like Gold, JPY, USD and CHF.
Technical:
The Price is in a good and healthy downtrend with lower lows and lower highs, made a retracement to the /0.618/ fib zone which is a resistance level as well. This gives a good risk to reward ratio.
Trade Safe
ملاحظة
The Price respected the resistance level at the /0.381/ fib and now the trade is in green...ملاحظة
I moved the stop loss to the entry levelملاحظة
Now the retail sentiment is: 95% Longتم إغلاق الصفقة يدويًا
I closed the trade at break even.ملاحظة
I'm still short bias on CADCHF ...Looking for short entry, most likely when the price reach /0.68050/, I'll short it againملاحظة
I took another short trade:
إخلاء المسؤولية
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.