CADCHF - Are We Still Trending Down?

11 sept. 2023

Analysis:
Bearish Confluences

• Strong downwards trend
  
• Retesting an area of significance
  
• In a longer term descending channel
  
• Longer term downwards trendline touch
  
• The CAD is the 4th weakest major currency whereas the CHF is the 4th strongest major currency
  
• 12K short position increase for the CAD
  
• 3K long position increase for the CHF
  

Bullish Confluences

• 3K long position increase for the CAD
  
• 4K short position increase for the CHF
  
• Recent CAD news has been bullish
  

Stay Safe - The JPI Team
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Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.

11 sept. 2023

Transaction en cours

Our entry criteria has been met and our order has been filled. We are short looking for a rejection from this longer term downwards trendline followed by a continuation move to the downside.

14 sept. 2023

Trade fermée: ordre d’arrêt atteint

Trade Closed
(-1R) Lost
After Trade Comments:
Unfortunately this trade did result in a loss, but we're completely okay with this. Recently we've been on a winning streak so taking one loss isn't going to affect us. This trade was exactly to plan but price just didn't move in our favour which happens sometimes and you've just got to accept it and move on, exactly like what we're doing. Dwelling on a loss where you did everything to plan is pointless because you did what you should but the market just had a different idea which happens. It's not about how the next trade ends but rather how the next 100 trades end. Don't just think that because you have one losing day that you're not profitable because that's not what trading is about. Being an actual trading is about slow but steady returns over the long run, so next time you take a loss think about the bigger picture. Also as a beginner trader a winning streak can be one of the most detrimental things to your trading as a lot of new traders will experience this and then they will start to risk more and more because they think that they've mastered the markets. Unfortunately you haven't, especially as a beginner trader. You need to humble yourself or else the markets will. Don't get ahead of yourself because when you do it will all come crashing down. In these times, especially as a beginner you need to remind yourself that you're not in control of the markets. You need to humble yourself before it's too late. Don't get ahead of yourself, remember that. Anyway with that all being said lets see if we're able to catch a winner to put us back into a winning streak!

Stay Safe - The JPI Team