Hi everyone:
Here is my view on USDCHF SHORT, Any type of feedback is greatly appreciated it. Thank you
Trade: #2
Date: 11/28/2016
Time: 18:00 GMT
Forex Pair/Commodity: USDCHF
Position: SHORT (SELL)
Reward/Risk: 3+:1
Opportunity:
Weekly: Price action has hit a strong resistance zone , formed a high test candle
Daily: Over extended run after the US election, formed a strong doji at the top of the run,
followed by a bear engulfing candle
4 Hour: Price action broke down the support trend line, and retest the 20 EMA and main pivot
Point, falling MACD
1 Hour: Broke down strong support trend line after 4 tries, pulled back to 0.38s fibs
replacement, 20/50 EMA, and main pivot point, MACD made a double tops
Looking to take this pair to previous strong horizontal support/resistance line @0.9950 and daily
0.382 fibs retracement
Thank you for your support
Here is my view on USDCHF SHORT, Any type of feedback is greatly appreciated it. Thank you
Trade: #2
Date: 11/28/2016
Time: 18:00 GMT
Forex Pair/Commodity: USDCHF
Position: SHORT (SELL)
Reward/Risk: 3+:1
Opportunity:
Weekly: Price action has hit a strong resistance zone , formed a high test candle
Daily: Over extended run after the US election, formed a strong doji at the top of the run,
followed by a bear engulfing candle
4 Hour: Price action broke down the support trend line, and retest the 20 EMA and main pivot
Point, falling MACD
1 Hour: Broke down strong support trend line after 4 tries, pulled back to 0.38s fibs
replacement, 20/50 EMA, and main pivot point, MACD made a double tops
Looking to take this pair to previous strong horizontal support/resistance line @0.9950 and daily
0.382 fibs retracement
Thank you for your support
Comment:
Correction: The date should be 11/27/2016
Comment:
Set stop loss at break even entry price of 1.01422.
Trade closed manually:
1 hour showed a mini double bottoms. Close the trade for 1:1 reward/risk @1.0102.
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100% Free Educational Trading Content.
NO Telegram, Discord, Whatsapp & Facebook.
Be Careful of Scammers, Impersonators/Fakers of ME on Those Platforms.