CADCHF is the abbreviation for the currency pair of the Canadian dollar and the Swiss franc. It’s one of the Forex pairs that can be traded. Traders can use different timeframes to analyze the market, like 1 hour or 15 minutes. Traders can use technical analysis to look for specific patterns to trade on the CADCHF 1hr/15mins chart.
I love that you are curious and that you are checking out this page right now. You know me, I love to help and teach aspiring traders something new! You will see throughout the website and in my blog posts links that go to outside sources (other websites and services).
These links may be what is referred to as an affiliate link which means I could earn money if you end up clicking on one and purchase/sign up for that service/product. If I am sending you to an outside source know that it is only because I have tested it myself and believe in it. I am all about sharing my recommendations and providing you with the best service/product and even excellent support.
The money earned through my affiliate links is just another way for me to earn a little extra income so that I can continue doing what I love which is helping aspiring traders with the right resources. If you choose to purchase something through me and use my affiliate links it is greatly appreciated and I thank you!
“I Wish You Well In Your Journey & In Your Trading.”-
I am patiently stalking GBPCAD to give me a sell signal. At the moment, I can still get some countertrend trades. Oh! Yes, I have received questions regarding counter trend trading. For them that I have replied to, I insisted on knowing the timeframes they are trading. As you can see, I have stated above that I am looking for a sell signal. The reason is, I am not looking at lower timeframes like 1hr and 15mins.
Many traders do not know how timeframe affect the markets and how you need to trade. All of us we have read that trading misused saying ”always follow the trend”, I always wonder which trend are you talking about?
If you switch on to 1hr chart there is a trend, if you go to 15 minutes, there is still a trend. Which trend are you told to follow? This is again a missing key to many traders out there.
To trade successfully, you must be certain of the two timeframes you need to be loolking at . One timeframe should be confirming a direction to you while the rest you should trade it.
Let me show you an example here.
I know majority of you are confused. Do not be confused. I am here to clear some issues for you.
I would like you to leave the saying …. ”trade when the trend is your friend” and re-name it ..”trade when the overall trend is your friend.”
Daily/4hrs traders did not see a downtrend to them, that was just a pulback for them to buy whereas them who are trading 4hrs/1hr are clearly bragging because they can spot a sell position. All of us here are right. The difference is the timeframe you are trading. Do not condemn the 1hrs who are selling and start explaining to them that they should buy.
I want you to understand that, if you understand how the timeframe influence the trading you will be stress-free when stalking for the pair to trade.
I know many traders who have incurred losses is due to poor risk management. Every person there is advising on use of stop losses.Yes, the information is 100% correct, but did they teach you how to place a stop loss?
In case you are those type of trades who have fixiated their stop loss to be just few pips like 20 pips, you will burn tha account. You need to master exits the same way you have done for the entries.
As I said in my previous articles, timeframe depends on many factors which I will discuss later on. In case you feel that you need some guidance on understading this core trading concepts please comment and send me an email. You all knowI do not reply to you right away. In case I do not reply to your email on time, please understand that my inbox is full of emails and I usually read them one by one to understand some of the common mistakes you are doing.
Thank you guys for trusting me to take you through in this noble course. For them that I may have failed to honor their requests for skype calls, please understand thatI still need my personal time.
Wishing you successful trading week ahead.
AFFILIATE LINKS
Affiliate Links
I love that you are curious and that you are checking out this page right now. You know me, I love to help and teach aspiring traders something new! You will see throughout the website and in my blog posts links that go to outside sources (other websites and services).
These links may be what is referred to as an affiliate link which means I could earn money if you end up clicking on one and purchase/sign up for that service/product. If I am sending you to an outside source know that it is only because I have tested it myself and believe in it. I am all about sharing my recommendations and providing you with the best service/product and even excellent support.
The money earned through my affiliate links is just another way for me to earn a little extra income so that I can continue doing what I love which is helping aspiring traders with the right resources. If you choose to purchase something through me and use my affiliate links it is greatly appreciated and I thank you!
“I Wish You Well In Your Journey & In Your Trading.”-
I would like to alert you on some of the pairs that I will be stalking for the coming week ( 17th-22nd May 2020) As you have noted so far, I trade lower timeframes of 4hrs/1hr or 1hr/15mins.
In case you want to trade today, daily might not be a good timeframe for you, but timeframe depends on various reasons which you can determine. These two timeframes 1hr/15mins or 4hrs/1hr can still work for you. For beginners, I always advice them to trade higher timeframes like daily/4hrs chart.
There are various reasons why this is the case. With enough time following a certain currency pair might work well as you will not be emotionally attached to that single trade.
Traders trading 1mins chart and you were introduced yesterday in this business, I would advice you to go for higher timeframes. In case its working for you, just do it,but I find it riskier. I always advice starters to start with higher timeframes and then change it later on when they become consistently profitable.
Lets talk of the pair I have just mentioned, AUDNZD 4hrs/1hr. As we can see, the price broke out a consolidation where the two proper lines are, ( my buying area.)
With that in mind, there are many sellers who were selling before the market went up that agggressively.
I am aware that, there some of the big banks orders which were not filled. Also, they will start a negotiation game looking for a better price. Stalking the pulback , that starts by forming lower lows and lower highs will be a real deal for me. Wait for the market to activate people to become sellers and its after that I start my preparations.
In case pulback ( discounted price) come down strongly, I will not be so precisely that I must get into the market from the area i have indicated.
I have summarized everything I have mentioned in the chart below. Many Pip folks!
Summarized chart
Thank you for reading ,I am hereby wishing everyone one of you success in your trading. There are many ways of trading out there they work because you have consistently studied, used and practised them for sometime now without jumping on new ones. There is also a better way of trading which is stress free. That is what I want us to share with you later on if interested.
In case I did not answer this query to your satisfaction, ” which timeframe is the best for me” that I get frequently from many traders You are free to contact me for free consultations on how trading works.
Send me a message to my email: myforexglobal@gmail.com
I love that you are curious and that you are checking out this page right now. You know me, I love to help and teach aspiring traders something new! You will see throughout the website and in my blog posts links that go to outside sources (other websites and services).
These links may be what is referred to as an affiliate link which means I could earn money if you end up clicking on one and purchase/sign up for that service/product. If I am sending you to an outside source know that it is only because I have tested it myself and believe in it. I am all about sharing my recommendations and providing you with the best service/product and even excellent support.
The money earned through my affiliate links is just another way for me to earn a little extra income so that I can continue doing what I love which is helping aspiring traders with the right resources. If you choose to purchase something through me and use my affiliate links it is greatly appreciated and I thank you!
“I Wish You Well In Your Journey & In Your Trading.”-
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok
