90 Days To Profit >>

Your 90 Days To Profit Challenge >>>

Take Our 90 Days To Profit Forex Challenge >>>

60 Pips Of Forex Profit By Doing This…

Thurs 4th May 2023 : Daily Forex Price Action

Today we’re looking at Trading Setups in:

  • CADCHF (Primary Focus Pair)
  • CHFJPY (Covered in Video)
90 Days To Profit Forex Challenge | Charles Clifton Forex Trader - 1-2-1 Forex Trader Training Courses | charlesclifton.co.uk

Primary Focus Pair: Overview

CADCHF

In the previous video we identified a short trading opportunity on CADCHF.

Today, the tables are suggesting the CADCHF price could trade even lower.

However, we have hit our 60 pip targets at the major lows of 0.6500.

Would it make sense to short again at this key low?

The answer is no. 

We traded short yesterday because price still had a high probability of reaching 0.6500 support.

Forex | Live Forex Charts - CADCHF - How to Find A Trending Forex Pair To Trade - Charles Clifton Forex Trader - 1-2-1 Forex Trader Training Courses - charlesclifton.co.uk

Now 0.6500 has been tested, those sellers would likely take profits, causing prices to move higher. 

If price were at a level of resistance, say 0.6625, then we would look for a short trading opportunity back to 0.6500 again.

However price is not currently at resistance and we should walk away until it is. 

Alternatively, if price trades to the downside through 0.6500 support, then rallies and retests the 0.6500 level, this time as resistance, we can again look for further selling opportunities.