As you remember, last Friday we at CMTrading shared a
trading idea regarding the CAD/CHF pair. The pair formed an H&S pattern
right on a stiff daily resistance. The bad GDP reading from Canada triggered a
massive sell of the pair. The first target at 0.9315 was reached quickly completing
patter’s target, and the pair closed at 0.9276 next to weekly’s low. On Monday the
pair reached a trend line support where profit taking orders stopped the
bearish momentum. If you are still holding this trade, you can move SL to
0.9315, above last 2 daily highs.
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