Following on from our USDCHF short idea, price has now traded back into our D1 Orderblock.
From this area, I'm looking to look for a reversal to the upside.
The market has NOT shown signs of breaking down yet on the lowertimeframes, so these boxes don't highlight my entry point. What they highlight is areas where you can take profit when the long setup presents itself.
When I enter, I'll be adding it in the comment section below so remember to follow this idea so you get notified upon our entry.
It's possible for price to trade lower from here and hit our D1 Propulsion Block. IF price trades down to this level, the setup for a long will be super high probability and the risk to reward can be astronomical depending on the size of the stop loss as per the market structure.
I will give my updates and thought as USDCHF matures and progresses.
Good luck guys!
Will update later if I see something nice.
I've got an entry signal to go long, which I will take with a stop below the lows of the day (0.91915)
However, DXY is bearish right now meaning that USDCHF may hold this level for 1-2 days prior to the reversal.
However, as per my system, I have entered at 0.92000 with a stop at 0.91915.
I'll give an update on take profit if price moves in line with our bias.
Tomorrow we can snipe an entry going long.
CADCHF has already taken off. When UF gives us an entry long tomorrow, this will further drive CADCHF higher.
P.S. Always execute trades w/ good risk management, 1-3% MAXIMUM. That's my 2 cents :)