Trading idea for the currency pair CADCHF
Good day, dear traders! I present to your attention a trading idea for the currency pair CADCHF.
Few people know, but this tool has incredible potential and, in my opinion, is underestimated by traders. By far, the most popular trading pair is EURUSD, but do not forget that 98% of traders regularly lose. It is easy to draw a parallel between these events.
I use cross trading as a risk diversification between instruments. There is one very clear pattern in certain cross-rates where the franc is present. They are very "short." The maximum wavelengths for them are several hundred points in 4-digit. And often after each update of large extremes – a pretty impressive rollback follows.
At the moment, the pair is showing a bullish trend, which originated in July. The pair passed 350p and is near the annual extremes.
It is important to remember that tomorrow at 13:30 London time, a decision will be made on the interest rate on CAD and at 16:15 – a press conference of the Bank of Canada. At this time, increased volatility of instruments with CAD is expected, and CADCHF will be no exception.
I propose a trading idea – a set of short positions on the net in a growing market to catch kickbacks, closing the entire bundle of sales for the total take profit:
Good luck with trading and see you in the next reviews!
